Question on: WAEC Economics - 2016
Charging different prices for the same commodity is a feature of a
A
perfect competition
B
commodity market
C
monopolistic competition
D
monopoly market
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Correct Option: A
In a perfect competitive market, price discrimination occurs when identical goods and services are sold at different prices by the same provider. In pure pricediscrimination, the seller will charge the buyer the absolute maximum price that he is willing to pay.
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