Market-based prices are least likely to be influenced by:
A) The degree of product differentiation
B) Competition
C) Whether or not the product is a commodity
D) The cost to produce the product

Question

Quizplus · Accepted Answer

Market-based prices are determined by supply and demand in the market, and are not influenced by the cost to produce the product. Supply and demand take into account factors such as product differentiation, competition, and whether the product is a commodity.

Market-Based Prices Are Least Likely to Be Influenced By