In General,prices Should Not Be Based on Costs Because Consumers

question 95

True/False

In general,prices should not be based on costs because consumers make their purchase decisions based on perceived value,not the cost of production.

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Definitions:

Legal Standards

Policies or principles established by legislation or court decisions, which dictate the minimum acceptable level of conduct in society.

Negotiated Level

A mutually agreed upon standard or condition that is arrived at after discussion between parties involved.

Conflict Management

The practice of identifying and handling conflicts in a wise, fair, and efficient manner, focusing on effective communication and negotiation strategies to achieve resolutions.