Given below are two statements, one is labelled as Assertion (A) and the other is labelled as Reason (R). Assertion (A): The skimming price policy is adopted where close substitutes of a new product are not available. Reason (R): This policy requires fixing a lower initial price designed to penetrate the market as quickly as possible and is intended to maximize the profit in the long run. In the light of the above statements, choose the most appropriate answer from the options given below:

Question

Economics · Business Economics

Verified Solution4 OptionsUpdated: October 2026👁️1 View

Share:

Correct answer

(A) is correct but (R) is not correct

Save this question and verified answer as a clean study sheet with live clickable link.

👥

Challenge your peer aspirants on WhatsApp or Telegram to solve this question!

Online Test Series

Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.

Chapter Practice

Want more practice questions on Business Economics?

Solve complete topic-wise tests with detailed solutions on GkGet.

Recommended practice questions in Economics · Business Economics

Which of the following organizations was instrumental in advocating for the abolition of Sati in India?

Who was the first President of independent India?

Who among the following was the founder of the 'Gadar Party'?

Answer 1

(A) is not correct but (R) is correct

Answer 2

(A) is correct but (R) is not correct

Answer 3

Both (A) and (R) are correct but (R) is not the correct explanation of (A)

Answer 4

Both (A) and (R) are correct and (R) is the correct explanation of (A)

Related Practice Questions