Which of the following scenarios illustrates why the law of one price may not hold? Check all that apply.

The formation of the European Union creates a custom union among its member states, where internally traded goods are not subject to custom duties, tariffs, or import quotas.

Small electronic devices, such as computer chips, are relatively light and can be shipped in bulk.

Cement is very heavy, and the cost of shipping is measured by weight.

none of these

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All three scenarios provided offer potential reasons why the law of one price may not hold The forma... View the full answer