The Company Designs What It Considers to Be a Good

question 149

Multiple Choice

The company designs what it considers to be a good product,totals the expenses of making the product,and sets a price that adds a standard markup to the cost of the product.This approach to pricing is called ________.

• A) value-based pricing
• B) fixed cost pricing
• C) cost-plus pricing
• D) variable pricing
• E) skimming pricing

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Definitions:

Bytes

Fundamental units of digital information in computing and telecommunications, typically consisting of 8 bits.

Petabyte

A unit of digital information storage equal to 1,024 terabytes or approximately a million gigabytes, often used to measure large data volumes.

Terabyte

A unit of digital information storage equal to approximately one trillion bytes, commonly used to quantify hard drive or storage capacity.

Megabyte

A unit of digital information storage or data size, approximately 1 million bytes, often used to quantify the size of digital files or storage capacity.