The same television set costs $500 in the United States, 450 in France, 300 in the United Kingdom, and 100,000 in Japan. If the law of one price holds, what are the euro-dollar, pound-dollar, and yen-dollar exchange rates? Why might the law of one price fail? You need to purchase Japanese yen and have called two brokers to get quotes. The first broker offered you a rate of 125 yen per dollar. The second broker, ignoring market convention, quoted a price of 0.0084 dollars per yen. To which broker should you give your business? Why