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2. Explain the conditions.necessary for what we called the classical definition of arbitrage to occur. When someone attempts an arbitrage strategy, what types of trades

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2. Explain the conditions.necessary for what we called the "classical" definition of arbitrage to occur. When someone attempts an arbitrage strategy, what types of trades are they doing (in other words, does it involve single or multiple markets)? Why is arbitrage, if it occurs, always a temporary condition

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