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Selling Price
The actual amount charged to customers for a product or service, determined by considering production costs, market demand, competition, and profit margin.
Value-based Pricing
Pricing strategy based on the perceived value of a product or service to the customer rather than its cost of production.
Testing Instrument
A tool or device used to assess, evaluate, or measure the functionality, quality, or performance of a product or material.
Operating Cost
Operating cost encompasses the expenditures related to the day-to-day functions of a business, including costs for goods sold, administration, and general expenses.
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