To What Amount Does a Company Set a Price Equal

question 56

Multiple Choice

To what amount does a company set a price equal if it uses a cost-plus approach to pricing?

• A)Total costs incurred
• B)Variable product costs plus a markup for profit
• C)Estimated total costs plus a markup for profit
• D)Total variable costs plus a share of the fixed costs

---

Definitions:

Social Inequality

describes the unequal distribution of wealth, opportunities, and privileges within a society, often based on factors like race, gender, or socioeconomic status.

Norms

The unwritten rules and expectations that govern the behavior of individuals within a society or group, guiding what is considered normal or acceptable.

Rules

Prescribed directives or principles meant to govern behavior or processes within a specific context.

Laws

Rules established by a governing authority to regulate conduct.