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Shapes of Total Cost Curves in the Short Run

A strategy th...

Question

A strategy that ensures price target is to be met is termed as _______.

A

Target costing

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B

Marginal costing

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C

Demand based costing

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D

Learning curve costing

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Solution

The correct option is A Target costing

Target costing is an approach to determine a product's life-cycle cost which should be sufficient to develop specified functionality and quality, while ensuring its desired profit. It involves setting a target cost by subtracting a desired profit margin from a competitive market price.

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