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Explain any two factors affecting price of a product.
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Solution
Factors affecting price of a product: (Any two factors)
(i) Product Cost
(ii) Utility and Demand
(iii) Extent of competition in the market
(iv) Government and Legal Regulations
(v) Pricing Objectives
(vi) Marketing Methods used
(i) Product Cost
(ii) Utility and Demand
(iii) Extent of competition in the market
(iv) Government and Legal Regulations
(v) Pricing Objectives
(vi) Marketing Methods used
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