When Determining a Product's Final Price, All of the Following

question 6

Multiple Choice

When determining a product's final price, all of the following should be taken into consideration EXCEPT______________.

• A) marketing expenses
• B) variable costs
• C) finance and bank charges
• D) sunk costs
• E) export-related charges

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Definitions:

Public Good

A good that is non-excludable and non-rivalrous, where one person's enjoyment of the good does not diminish the ability of others to enjoy it, typically provided by the government.

Market Demand Curve

A graphical representation showing the quantity of a good that all consumers in a market are willing to purchase at various prices.

Public Good

A product or service that is made available to all members of a society by the government or a private entity, characterized by non-excludability and non-rivalry in consumption.

Marginal Cost

The increment in production cost when an extra unit of a product or service is produced.