All of the Following Statements About Standard Markup Pricing Are

question 240

Multiple Choice

All of the following statements about standard markup pricing are true except which?

• A)High-volume products usually have smaller markups than do low-volume products.
• B)The percentage markup depends on the type of retail store and the product involved.
• C)Markups must cover all expenses of the store,pay for overhead costs,and contribute something to profits.
• D)A price is achieved by summing the total unit cost of providing a product or service and adding a specific amount to the cost.
• E)Supermarket managers have such a large number of products that estimating the demand for each product as a means of setting price is impossible.