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WAEC Economics 2013 Question 40

Question 40

Market Structures

Price fluctuation is a feature of

  1. A.common market.
  2. B.imperfect market.
  3. C.supermarkets.
  4. D.market failure.
Show the answer and explanation

Answer: B (imperfect market.)

Explanation

In an imperfect market different sellers charge different, changing prices for the same good.