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The more substitutes that exist in a market,
a. the more likely the market will be characterized as an oligopoly.
b. the easier it will be to utilize a target profit pricing strategy.
c. the greater the income elasticity for each product.
d. the lower the price elasticity for each product.
e. the more sensitive consumers will be to changes in the price of a particular product.
The more substitutes that exist in a market,
a. the more likely the market will be characterized as an oligopoly.
b. the easier it will be to utilize a target profit pricing strategy.
c. the greater the income elasticity for each product.
d. the lower the price elasticity for each product.
e. the more sensitive consumers will be to changes in the price of a particular product.
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Divya SinghLv10
6 Oct 2020