I need this computer typed so I can read it and I don’t want the answers that al

Question

I need this computer typed so I can read it and I don’t want the answers that already on chegg, please provide economic explanation for each step... thanks

1. According to a New York Times article, shoppers fronm New York City have played a game of "retail arbitrage" by shopping at malls in Northern New Jersey, a state where there is no tax on clothing and shoes. Even after accounting for transaction costs, shoppers could still save money on their clothing and footwear purchases. Is the term "arbitrage" correctly used here? Why or why not?

Explanation / Answer

Arbitrage involves buying goods at one market at a lower price and selling it in another market at a higher price.

In this case people are just shopping but not reselling, so this is not an arbitrage.

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