Which of the following statements is true?

Question

Quizplus · Accepted Answer

When a company has little or no control over the prices of their products or services, they are considered price-takers. This is often the case in highly competitive markets or when a company is a small player in a larger market dominated by a few larger competitors. When a company's pricing approach emphasizes cost-plus pricing, they are still technically a price-setter, although their pricing may be heavily influenced by their cost structure. Conversely, companies with unique products may have some pricing power and be able to set their prices accordingly.

Which of the Following Statements Is True