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Difference between One-Price and Flexible-Price Policies

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What is the difference between one-price and flexible-price policies? Which is most appropriate for a hardware store? Explain your reasoning in detail with examples.

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The major difference between a one price and flexible price policy, is the fact that one price policies are policies in which the prices for given items are fixed by the seller, and these prices are not negotiable by customers. Flexible price policies on the other hand, are policies in which prices are placed on items, yet the prices that are placed on these items are able to be negotiated by the customers of the ...

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