Which kind of pricing strategy would you expect producers to use for pricing homogeneous products such as wool, tomatoes, wheat, coal, and bone meal?
A) Penetration pricing
B) Going-rate pricing
C) Skimming pricing
D) Sealed-bid pricing

Question

Quizplus · Accepted Answer

Pricing a product at competition is called going-rate pricing and is popular for homogeneous products, since this approach represents the collective wisdom of the industry and is not disruptive of industry harmony.

Which Kind of Pricing Strategy Would You Expect Producers to Use