Illustrates the reasons for charging skimming price strategy
Illustrates the reasons for charging skimming price strategy?
Expert
Reasons for charging Skimming price strategy are as follows:
1. While the demand of new product is relatively inelastic.
2. While there are no close substitutes
3. Elasticity of demand is not identified.
4. While the buyers are not capable to compare the value and utility.
5. For attracting the high income customers.
6. For recovering early the R and D and promotional expenses.
7. When the product has distinctive qualities and luxuries.
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When total variable cost exceeds total revenue whatever output levels but a perfectly competitive firm: w) must produce in the short run. x) is making short-run profits. y) must shut down in the short run. z) has shel
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