perfect competition
commodity market
monopolistic competition
monopoly market
Explanation
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Abeg o let's be guided
The answer is C na
The person that gave that explanation should go and read again and should stop giving us false proofs for wrong answers.
Please o!
pls explain why its A, wen consumers know the price in a perfect competitive market, d answer should b "D"
The correct answer is:
D. monopoly market
In a monopoly market, a single seller controls the entire supply of a product with no close substitutes, giving them the power to set prices. This allows the monopolist to practice price discrimination — charging different prices for the same product based on factors like:
Customer’s willingness to pay
Quantity purchased
Location
Time of purchase
This is not possible in perfect competition, where prices are uniform due to many sellers and buyers.
So yes, charging different prices for the same commodity is a key feature of a monopoly.
