11 Views

Question : Which factor affecting price determination is highlighted in the given statement?
Statement: Competitor prices and their anticipated reactions must be considered before fixing the price  of a product.
 

Option 1: Product cost
 

Option 2: Utility and demand of the product
 

Option 3: Extent of competition in the market
 

Option 4: Government and legal regulations


Team Careers360 16th Jan, 2024
Answer (1)
Team Careers360 17th Jan, 2024

Correct Answer: Extent of competition in the market
 


Solution : Competitor prices and their anticipated reactions must be considered before fixing the price  of a product. Price of product cannot be fixed without considering the nature and the degree of competition.

Hence, option C is correct.

Related Questions

UPES B.Tech Admissions 2026
Apply
Ranked #43 among Engineering colleges in India by NIRF | Highest Package 1.3 CR , 100% Placements
UPES Integrated LLB Admission...
Apply
Ranked #18 amongst Institutions in India by NIRF | Ranked #1 in India for Academic Reputation by QS Rankings | 16 LPA Highest CTC
Nirma University Law Admissio...
Apply
Grade 'A+' accredited by NAAC | Ranked 33rd by NIRF 2025
UPES M.Tech Admissions 2026
Apply
Ranked #45 Among Universities in India by NIRF | 1950+ Students Placed 91% Placement, 800+ Recruiters
UPES | BBA Admissions 2026
Apply
#36 in NIRF, NAAC ‘A’ Grade | 100% Placement, up to 30% meritorious scholarships
IMT Ghaziabad PGDM Admissions...
Apply
AACSB, NBA & SAQS Accredited | H-CTC 41.55 LPA | Merit Based Scholarship
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books