The same product in a market may be sold at different prices by different firms because

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    The market is perfectly competitive and so firms charge different prices to try to differentiate their products.
     Arbitrage allows a seller to buy at a low price in one location and sell the product at a higher price somewhere else.
     In imperfectly competitive markets, customers may have brand loyalties that allow some firms to charge more for their products than other firms can charge for a similar product.
     Both 2 and 3.
asked May 30, 2013 in Economics by anonymous
    

1 Answer

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Both 2 and 3.
answered May 31, 2013 by Xyz ~Expert~ (3,650 points)



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