To accomplish the goals of maximizing short- or long-run profits and to quickly recover development costs,which of the following is an appropriate strategy?

Name: To accomplish the goals of maximizing short- or long-run profits and to quickly recover development costs,which of the following is an appropriate strategy?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Price skimming involves setting a high initial price to quickly recover development costs and maximize profits before gradually lowering the price.

To Accomplish the Goals of Maximizing Short- or Long-Run Profits