Which of the following factor affects the price determination?

Demand

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Product cost

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Government and legal regulations

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All of these

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Solution

The correct option is C All of these
7 important factors that determine the fixation of price are:
(i) Cost of Production
(ii) Demand for Product
(iii) Price of Competing Firms
(iv) Purchasing Power of Customers
(v) Government Regulation
(vi) Objective
(vii) Marketing Method Used

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