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When using the functional cost approach to set selling prices, the markup must cover:
Household Income
The combined gross income of all members of a household, typically measured on an annual basis.
Food Expenditures
The amount of money spent on food by individuals, households, or countries.
Nation
A large group of people united by common descent, history, culture, or language, inhabiting a particular country or territory.
Total Employment
The total number of people employed in an economy at a given time, including both full-time and part-time workers.
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