Consider the Tostitos products photo above.Frito-Lay recognizes that its tortilla chip products are partial substitutes for one another.Its bean and cheese dips and salsa sauces complement its tortilla chips.Frito-Lay uses this knowledge to set prices for each item in order to ensure that the entire line is profitable.This pricing strategy is known as

Question

Quizplus · Accepted Answer

Frito-Lay's pricing strategy of setting prices for all items in its product line, taking into account the fact that they are substitutes and complements, is called product-line pricing.

Consider the Tostitos Products Photo Above