Post Utme Bells University 2020 Commerce Question 11
Practice objective / multiple choice question 11 from the 2020 Post Utme Bells University Commerce examination.
In a perfectly competitive market, the law of one price dictates that the price of a commodity will be equal in all markets, assuming that there are no transportation costs or other barriers to trade. However, if transportation costs are significant, the price of the commodity may differ between markets. What is the name of the phenomenon where the price of a commodity differs between markets due to transportation costs?
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About This Question
This is Post Utme Bells University 2020 Commerce Question 11. It is one of the objective questions from the 2020 Post Utme Bells University Commerce examination.
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