The _______________ Pricing Approach Has a Major Advantage: It Is

question 79

Short Answer

The _______________ pricing approach has a major advantage: it is simple to compute.

---

Definitions:

Tax

A compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Profit

The financial gain achieved when the revenue from a business activity exceeds the expenses, costs, and taxes associated with maintaining the activity.

Demand Curve

A chart that depicts how the quantity of a product demanded by buyers is related to its price, usually sloping downwards.

Marginal Revenue

The additional income earned from selling one more unit of a good or service, crucial for decision-making on output levels.