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Refer to the figure. What is the name of the circulation pattern indicated by the black arrow?
Product's Price
The amount of money charged for a product or service, determined by various factors including cost of production, market demand, and competition.
Flexible Cost-plus Pricing
A pricing strategy where the selling price is determined by adding a specific markup to a product's variable costs, allowing flexibility in pricing.
Pricing Strategies
Tactics used by companies to determine the best price points for their products or services in order to maximize profits and market share.
Rigid Cost-plus Pricing
A pricing strategy where a fixed percentage is added to the total cost of producing a product to determine its selling price, without flexibility for market changes.
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