Different prices for identical goods is one sign of a market that has uninformed buyers.

Name: Different prices for identical goods is one sign of a market that has uninformed buyers.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When buyers are uninformed about the true value of a particular good or service, market players can charge different prices for identical products to maximize their profits. This is known as price discrimination and is a common market practice in situations where buyers lack perfect information.

Different Prices for Identical Goods Is One Sign of a Market