What are two key product market factors that affect the ability of the organization to change what it charges for its products and services?
A)marginal product of labour and marginal revenue of labour
B)product demand and the degree of competition
C)industry and product technology
D)reservation wage and human capital
E)efficiency wage and reservation wage

Question

Quizplus · Accepted Answer

Product demand affects pricing power as higher demand can allow for higher prices, while the degree of competition influences pricing flexibility since more competition can limit the ability to raise prices.

What Are Two Key Product Market Factors That Affect the Ability