Market economies with legal systems that provide for the reliable protection of property rights and enforcement of contracts tend to promote economic growth.

The law of one price holds exactly only if there are transactions costs associated with buying a product in one location and selling it in another location

Indicate whether the statement is true or false

For which market structure do economists have the least precise model of price determination?

A) perfect competition in the short run B) perfect competition in the long run C) oligopoly D) monopoly