For which of the following products is the seller most likely to use going-rate pricing?
A) Sports cars
B) Wedding apparel
C) Whole milk
D) Designer furniture

Question

Quizplus · Accepted Answer

Pricing a product at competition is called going-rate pricing and is popular for homogeneous products, since this approach represents the collective wisdom of the industry and is not disruptive of industry harmony.

For Which of the Following Products Is the Seller Most