Answer-What does 'relevant product market' refer to _______________

Section 2 Definitions t relevant product market means a market comprising of all those products or services -- i which are regarded as inter - changeable or substitutable by the consumer, by reason of characteristics of the products or services, their prices and intended use or ii the production or supply of, which are regarded as interchangeable or substitutable by the supplier, by reason of the ease of switching production between such products and services and marketing them in the short term without incurring significant additional costs or risks in response to small and permanent changes in relative prices.

Question

What does "relevant product market" refer to _______________

A A market consisting of products or services that are identical in characteristics and price

B A market limited to luxury goods and services

C A market that focuses only on services and excludes products

D A market solely based on consumer preferences without considering production aspects

E A market of products or services deemed interchangeable by consumers due to their characteristics and prices, and that suppliers can readily switch to in response to price changes

Practice Next