passwella.
Menu

WAEC Economics 2016 Question 22

Question 22

Market Structures

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

  1. A.perfect competition.
  2. B.commodity market.
  3. C.monopolistic competition.
  4. D.monopoly market.
Show the answer and explanation

Answer: D (monopoly market.)

Explanation

Price discrimination needs market power over separate groups of buyers, which a monopolist has.