Which pricing constraint is demonstrated by the following statement: "Most public utilities must petition regulatory commissions in order to obtain a rate increase"?
A)demand for the product, class, or brand
B)newness of product in the life cycle
C)costs of production
D)type of competitive markets

Question

Quizplus · Accepted Answer

Public utilities operate in regulated markets, which are a type of competitive market where prices are controlled by regulatory commissions.

Which Pricing Constraint Is Demonstrated by the Following Statement: "Most