A producer can determine his price keeping maximum profit when
A. There is no competition in the market
B. He has spent heavily in the research and development of the product
C. He aims to earn maximum return
D. Both (A) and (B)
Answer:D
A producer can determine his price keeping maximum profit when
A. There is no competition in the market B. He has spent heavily in the research and development of the product C. He aims to earn maximum return D. Both (A) and (B)