WAEC - Economics (2016 - No. 20)
Charging different prices for the same commodity is a feature of a
perfect competition
commodity market
monopolistic competition
monopoly market
Paaiškinimas
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.