Once devised, plans should be permanent and not subject to change

Which of the following is characteristic of pricing products/services according to the going-rate

approach? A) Prices of products have little relation to the actual cost of manufacturing them. B) Market leaders set the prices, which are then adopted by smaller firms. C) Early adopters of new technologies are the targeted customer segment with this approach. D) Optimum profits are not gained as current demand and competitor's prices are ignored.

Regulation often opens up opportunities by altering people's preferences and by creating demand for products that had not existed before

Indicate whether the statement is true or false