Question

Charging high prices to earn large profits during a time when there is little competition represents a(n ____ strategy:

Answer 1

The type of strategy that the company or the individual is handling is the skimming strategy. This is a type of pricing technique where this is being promoted when there are only few competition with the use of pricing in a higher way. This is used to earn more because of using prices that are large and more possibilities because of little competition in the market.