What Pricing Concept Is Used If All Costs Are Considered

question 139

Multiple Choice

What pricing concept is used if all costs are considered and a fair markup is added to determine the selling price?

• A) total cost concept
• B) demand-based concept
• C) variable cost concept
• D) fixed cost concept

---

Definitions:

Series

A sequence of data points or elements that follow a particular order, often used in statistics, mathematics, and various scientific disciplines to analyze trends or patterns.

Optimal Maintenance Policy

The most efficient and effective strategy for maintaining equipment or systems, balancing costs with downtime and operational performance.

Inventory

The total amount of goods and materials held by a business to support production, future sales, or servicing.

Downtime

The period during which an equipment, system, or service is not operational or functional, often resulting in productivity or revenue loss.