The idea behind price skimming is to quickly recover the costs of research and development.

Name: The idea behind price skimming is to quickly recover the costs of research and development.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Price skimming involves introducing a product at a high price initially in order to target early adopters and recover the costs of research and development quickly. Once the product gains wider acceptance in the market, the price may be lowered to target a broader customer base.

The Idea Behind Price Skimming Is to Quickly Recover the Costs