Which of the following statements regarding pricing constraints is most accurate? Pricing constraints must always be set, but they are rarely enforced. At the corporate level, when setting pricing constraints, a firm must disregard current conditions in the marketplace because they are too temporal for long-term planning. Even if a firm is trying to satisfy its obligations to its customers and society in general, it should ignore setting pricing constraints. Generally, the greater the demand for a product, the higher the price that can be set. It is possible to create pricing constraints with the greatest range possible in order to anticipate any and all changes in the marketing environment.

The correct answer in this case, would be the second last option mentioned in the answer choices or Generally, the greater the demand for a product, the higher the price that can be set.

Explanation:

In Economics, pricing constraints refer to the deterrent factors and components that prevent the firms or companies from setting their own prices based on their flexibility.From a marketing standpoint, as the consumers have relatively higher demand for any product or service, higher will be its market price consequently as it is valued more by the customers or buyers.Now, considering a relatively lower price elasticity of demand and a considerably high demand for the product or service, the seller can increase the price of the concerned product to expand its revenue level.Hence, excessive consumer demand is an opportunity to increase the market price which can reduce the pricing constraints to a considerable extent. Therefore, consumer demand and price elasticity of demand are some of the major determinants of pricing constraint in most of the markets and can be exploited by the firms or companies to extract maximum revenue and profit.