In General, Prices Should Not Be Based on Costs Because

question 28

Multiple Choice

In general, prices should not be based on costs because

• A)consumers are cost-conscious.
• B)producers rarely know what their costs are.
• C)consumers make their purchase decisions based on perceived value.
• D)producers need to avoid creating a cost competitive parity debate.
• E)customers are always right.

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Definitions:

Kenyan-Born

Individuals who were born in Kenya, often referenced to discuss the experiences and identities of people from or in the Kenyan diaspora.

Liberal Feminism

An approach to gender and power that focuses on creating equal opportunities for women in all spheres of life—work, home, and education.

Organizational Variable

A factor within an organization that can vary and influence the behavior of the organization, such as structure, culture, or strategies.

Material Realities

The tangible and physical aspects of life, including the natural environment, built environments, and objects, that influence or determine human experiences and societal structures.