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a) Distinguish between skimming price and penetration price policy. Which of these policies is relevant in pricing a new product under different competitive conditions in

a) Distinguish between skimming price and penetration price policy.

Which of these policies is relevant in pricing a new product under different competitive conditions in the market and justify your reasons?

b) Describe the techniques of competitive bidding of price under the condition of uncertainty

c) Examine why sometimes peak load pricing is inevitable.

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