_____ is sometimes called a "market-plus" approach to pricing because it denotes a high price relative to the prices of competing products.
A)Price skimming
B)Price fixing
C)Status quo pricing
D)Bait-and-switch pricing

Question

Quizplus · Accepted Answer

Price skimming involves setting a high price for a new product, typically in the introductory phase when demand is high and competition is low. This approach is sometimes referred to as a "market-plus" approach because the price is set higher than the prices of competing products. The goal of price skimming is to maximize profits before competitors enter the market and drive prices down.

_____ Is Sometimes Called a "Market-Plus" Approach to Pricing Because