Economics WAEC

Charging different prices for the same commodity is a feature of a?

A. perfect competition
B. commodity market
C. monopolistic competition
D. monopoly market

Correct Answer: Option A

A. perfect competition

Explanation

In a perfect competitive market, price discrimination occurs when identical goods and services are sold at different prices by the same provider. In pure price discrimination, the seller will charge the buyer the absolute maximum price that he is willing to pay.

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