Question : Which factor affecting price determination is highlighted in the given statement?
Statement: If the firm aims to maximize profits in the short run then it would fix maximum price for its products.

Option 1: Pricing objectives
Option 2: Utility and demand of the product
Option 3: Extent of competition in the market

Option 4: Government and legal regulations

Question

Question : Which factor affecting price determination is highlighted in the given statement?
Statement: If the firm aims to maximize profits in the short run then it would fix maximum price for its products.

Option 1: Pricing objectives

Option 2: Utility and demand of the product

Option 3: Extent of competition in the market

Option 4: Government and legal regulations

Team Careers360 · Accepted Answer

Correct Answer: Pricing objectives

Solution : The pricing objectives of a firm also influence the price of a product. Generally the objectives of the firm is to maximize the profits.If the firm aims to maximize profits in the short run then it would fix maximum price for its products.

Hence, option A is correct

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Question : Which factor affecting price determination is highlighted in the given statement?
Statement: It is also affected by price control by the government.

Question : Which factor affecting price determination is highlighted in the given statement?
Statement: It is affected by intensity or price elasticity of demand.

Question : Which factor affecting price determination is highlighted in the given statement?
Statement: It cannot be fixed without considering the nature and the degree of competition.

Question : Which factor affecting price determination is highlighted in the given statement?
Statement: It must reflect the interest of both buyers and sellers.

Question : Which factor affecting price determination is highlighted in the given statement?
Statement: It includes the total cost of producing distributing and selling the product.