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प्रश्न
Under which of the following situations is a company not likely to fix a lower price for its product?
विकल्प
When the competition has introduced a substitute product.
If the demand for a product is inelastic.
When the company wants to attain market share leadership.
When the demand for the product is low.
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उत्तर
If the demand for a product is inelastic.
Explanation:
If demand is inelastic, consumers are not sensitive to price changes, so there’s no need to set a lower price. Thus, the company is not likely to fix a lower price in this case.
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