While the product costs set the lower limits of the price for a product, the upper limit of price which a buyer would be prepared to pay is decided by:
Komal Kohli February 28, 2023
These are the options for the question :While the product costs set the lower limits of the price for a product, the upper limit of price which a buyer would be prepared to pay is decided by:
a. Utility and demand of the product
b. The marketing manager of the firm
c. The Government
d. The competitors of the firm
The correct answer is -(a) Utility and demand of the product
