Which of the following pairs are characteristics of price-setters?

Question

Quizplus · Accepted Answer

Price-setters have the ability to set prices for their products, and cost-plus pricing is a common method used by price-setters to determine the selling price. Additionally, price-setters typically operate in markets with less competition, as it allows them to have greater control over pricing. Therefore, option C is the best choice as it includes both characteristics of less competition and cost-plus pricing. Options A and D are incorrect as they each only include one characteristic of price-setters. Option B is incorrect as it includes characteristics opposite to those of price-setters, such as lack of product uniqueness and heavy competition.

Which of the Following Pairs Are Characteristics of Price-Setters