The Practice of Setting Price by Increasing the Average Costs

question 38

Multiple Choice

The practice of setting price by increasing the average costs of production by some percentage is referred to as:

• A)average cost pricing.
• B)percentage pricing.
• C)rate-of-return pricing.
• D)markup pricing.

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Definitions:

Human Mind

The totality of conscious and unconscious mental processes and activities in a human being.

General Purpose

pertains to tools, machines, or software designed to perform a variety of functions rather than being specialized for one specific task.

Reinforcement

In behavioral psychology, a consequence applied that will strengthen an organism's future behavior whenever that behavior is preceded by a specific antecedent stimulus.

Skinner

B.F. Skinner, an American psychologist and behaviorist known for his work in developing the theory of operant conditioning, which involves learning through rewards and punishments.