variable prices

Variable prices, and what economists like about them

Posted 36 weeks 1 day ago by Philip Brewer

Personal Finance

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From the buyer's point of view, a "market price" is great. This is not only because he or she doesn't have to get a bunch of prices quotes to avoid being cheated, but also because the market price is almost always lower than the maximum amount the buyer would be willing to pay. The seller, though, much prefers variable prices--ideally, with each buyer paying his or her maximum price.

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