All of These Statements About Standard Markup Pricing Are True

question 2

Multiple Choice

All of these statements about standard markup pricing are true except which?

• A) High-volume products usually have smaller markups than do low-volume products.
• B) The percentage markup depends on the type of retail store and the product involved.
• C) Markups must cover all expenses of the store, pay for overhead costs, and contribute something to profits.
• D) A price is achieved by summing the total unit cost of providing a product or service and adding a specific amount to the cost.
• E) Supermarket managers have such a large number of products that estimating the demand for each product as a means of setting price is impossible.

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