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Question
Give an example of price discrimination.
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Solution
Example: Indian Railways charge lower fares from senior citizens of the country as compared to other citizens.
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RELATED QUESTIONS
Non-price competition is ______.
Match the following and select the correct option:
| Column I | Column II | ||
| (i) | Perfect competition | (A) | Differentiated Products |
| (ii) | Monopoly | (B) | Few large firms |
| (iii) | Monopolistic Competition | (C) | Single seller |
| (iv) | Oligopoly | (D) | Homogeneous products |
Products sold by each firm in a perfectly competitive market are perfect substitutes of each other.
To which market is product differentiation relevant?
In which form of market is the seller a price taker? Justify your answer.
State the market form of the following commodity.
Shampoos
Identify the market form for the item given below:
A single seller
With the help of an example explain the meaning of price discrimination.
What do you mean by homogeneous products?
In which market form is there a single seller and no close substitutes for the product?
