Question : Which factor affecting price determination is highlighted in the given statement? Statement: In addition to price quality and features of the competitive products must be examined carefully before fixing the prices.
Option 1: Product cost
Option 2: Utility and demand of the product
Option 3: Extent of competition in the market
Option 4: Government and legal regulations
Correct Answer: Extent of competition in the market
Solution : In addition to price quality and features of the competitive products must be examined carefully before fixing the prices. Competitors price and their anticipated reactions must be considered before fixing the price of product.
Hence, option C is correct.
Question : Which factor affecting price determination is highlighted in the given statement? Statement: Competitor prices and their anticipated reactions must be considered before fixing the price of a product.
Question : Which factor affecting price determination is highlighted in the given statement? Statement: Government can declared a product a essential product and regulate its price.
Question : Which factor affecting price determination is highlighted in the given statement? Statement: It is affected by intensity or price elasticity of demand.
Question : Which factor affecting price determination is highlighted in the given statement? Statement: It includes the total cost of producing distributing and selling the product.
Question : Which factor affecting price determination is highlighted in the given statement? Statement: It is also affected by price control by the government.
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