Final answer:
Single-segment pricing implies offering a single price to all customers, which does not require being the lowest priced, monopolistic, cost-leadership, or using price skimming strategies; it's a strategy common in perfectly competitive markets where firms face a perfectly elastic demand curve. Option A
Step-by-step explanation:
In order for a company to use single-segment pricing, it is not necessary that the company set the lowest product price among similar products, have no other competitors in the market, have a total cost of ownership less than that of competing products, set a higher price than competitors for its product, or first use a price skimming strategy when entering the market.
The concept of single-segment pricing simply refers to the strategy of offering a product or service at a single price to all customers, regardless of the cost to serve different customers or any differences in customers' willingness to pay.
In a context of perfect competition, which arises when there are many small firms selling identical products, no single firm can set a price higher than the market price because customers would switch to the next available supplier offering a lower price.
Therefore, every firm accepts the market price, and this price is determined by the overall market demand and supply. In this case, the firm faces a perfectly elastic demand curve for its product. Perfect competition implies that each firm can sell as much as it wants at the market price without influencing the price. Option A