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Marketing — Business Studies STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceBusiness StudiesMarketing1 Mark
MCQ
Utility and demand is an important factor for determing price of a commodity. If the demand is elastic, price should be set at a $........$ level and if the demand is less elastic or inelastic price can be set at a $........$ level.
  • A
    Higher, lower.
  • ✓
    Lower, higher.
  • C
    Lower, minimum.
  • D
    Minimum, lower.
✓

Answer

Correct option: B.
Lower, higher.

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