Which of the Following Is/are Not True Regarding Pricing for Service

question 61

Multiple Choice

Which of the following is/are not true regarding pricing for service firms?

• A)A service firm must establish a price based on the materials used to provide the service, the labor employed, an allowance for overhead, and a profit.
• B)Most service firms base their prices on an hourly rate (usually actual hours), but sometimes standard hours are used.
• C)For most service firms, labor and profit comprise the largest portion of the cost of the service.
• D)None of the above

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Definitions:

Thought

A mental process involving the manipulation of information to form ideas, make decisions, solve problems, or engage in creative processes.

Reciprocal

Involving a mutual exchange or relationship where both or all parties give and receive something of similar value.

Causality

The relationship between causes and effects, where one event (the cause) directly leads to the occurrence of another event (the effect).

Learning Theory Approach

An educational perspective focusing on how students acquire, process, and retain knowledge and skills through various theories and practices.