short response ( 300 words )

The law of one price suggests that, in a perfect market, the price of a good in one nation will be identical to the price in every other nation. • Why do you think the law of one price is or is not a useful way to conceptualize prices? • What is one example of a real-world product whose international prices violate the law of one price? Justify your position through a thoughtful discussion that draws upon the readings and lectures for this week. In addition, you should seek out a timely and relevant external information source, such as an article from a reputable news provider like The Wall Street Journal or The Financial Times.