Under the ________ price policy, firms can set higher prices where markets will tolerate them and lower prices where necessary to remain competitive.

Question

Quizplus · Accepted Answer

Under the market price policy, firms adjust their prices based on the tolerance and demand within different markets, allowing them to set higher prices in markets that can bear them and lower prices in more competitive areas to maintain competitiveness.

Under the ________ Price Policy, Firms Can Set Higher Prices