If a company prices its product as high as possible in order to earn the highest profit, they are most likely engaged in price skimming.

Name: If a company prices its product as high as possible in order to earn the highest profit, they are most likely engaged in price skimming.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Price skimming is a strategy where a company sets a high price initially to maximize profits from early adopters before gradually lowering the price.

If a Company Prices Its Product as High as Possible