Suppose you are shopping for a new automobile you find the, Finance Basics

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Suppose you are shopping for a new automobile you find the

What is an efficient market? Why do efficient markets benefit society? Define arbitrage and the law of one price. What role do they play in our market system? What do we call the "one price" of an asset? Suppose you are shopping for a new automobile. You find the same car at two dealers but at different prices. Is the law of one price being violated? Why or why not?

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