Which term describes factors that limit the range of prices a firm may set?
A)price fixings
B)pricing constraints
C)price elasticities
D)pricing demands
E)pricing margins

Question

Quizplus · Accepted Answer

Pricing constraints are external factors that limit the pricing range of a firm. These may include competition, customer demand, and production costs. Price fixings refer to illegal collusion among firms to set prices, price elasticities refer to the responsiveness of demand to changes in price, pricing demands refer to customers' willingness to pay for a product or service, and pricing margins refer to the profit margin that a firm aims to achieve.

Which Term Describes Factors That Limit the Range of Prices