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Question
The most common method used for pricing is _____________.
The most common method used for pricing is _____________.
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Solution
The correct option is A Cost plus or full cost pricing
Cost Plus Pricing is a pricing method that attempts to ensure that costs are covered while providing a minimum acceptable rate of profit for the entrepreneur. It is calculated by adding a fixed mark-up to average cost of production.Hence the most common method used for pricing is cost plus or full cost pricing.
Cost Plus Pricing is a pricing method that attempts to ensure that costs are covered while providing a minimum acceptable rate of profit for the entrepreneur. It is calculated by adding a fixed mark-up to average cost of production.
Hence the most common method used for pricing is cost plus or full cost pricing.
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