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Commerce Short Question | Gkseries

Q.

In which one of the following market situations, the pricing above the prevailing market price is used as a more common practice ?

[A] Markets where the selling firms face perfect competitive situations.
[B] Markets where the selling firms want to gain popularity of the products having high cross elasticity of their demand.
[C] Markets where sellers rely on their customers’ high propensity to consume a prestigious commodity
[D] Markets where the selling firms have entered into the stages of maturity and saturation
Answer & Explanation

Answer: Markets where sellers rely on their customers’ high propensity to consume a prestigious commodity

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