All of the Following Statements About Standard Markup Pricing Are

question 335

Multiple Choice

All of the following statements about standard markup pricing are true EXCEPT:

• 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)summing the total unit cost of providing a product or service and adding a specific amount to the cost to arrive at a price.
• 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

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