Assertion (A): Price skimming is the process of charging high prices for goods who have easily available substitutes.
Reason (R): Price skimming strategy is aimed to generate high profits in less time before the entry of other competitors.
1
Both Assertion (A) and Reason (R) are true and R is the correct explanation of A
2
Both Assertion (A) and Reason (R) are true and R is not the correct explanation of A
3
(A) is correct, but (R) is not correct
4
(A) is not correct, but (R) is correct