A substitute can assist in forming a(n)________ on the price that can be charged for product or service.
A)elastic demand
B)schedule
C)competitive map
D)ceiling

Question

Quizplus · Accepted Answer

A substitute can create a limit or "ceiling" on the price that can be charged for a product or service because consumers can opt for the substitute if the price of the original product becomes too high.

A Substitute Can Assist in Forming A(n)________ on the Price