price skimming works best for which type of product?\na. products that havent been advertised much\nb…

price skimming works best for which type of product?\na. products that havent been advertised much\nb. inexpensive products with many competitors\nc. products with elastic demand\nd. high-end products with unique features

price skimming works best for which type of product?\na. products that havent been advertised much\nb. inexpensive products with many competitors\nc. products with elastic demand\nd. high-end products with unique features

Answer

exclusive features will purchase at the high price, allowing the seller to "skim" top-tier profits before gradually lowering prices. Other options are unsuitable: unadvertised products (A) lack the market awareness for skimming, inexpensive competitive products (B) can't support high initial prices, and elastic demand products (C) would see sharp demand drops with high prices.