Stefan Has Worked in the Restaurant Industry for Over 20

question 164

Multiple Choice

Stefan has worked in the restaurant industry for over 20 years and recently signed a lease and plans to open his own restaurant in the next several months.He's working with his chef and bar manager to determine menu items and pricing.Of course,his pricing must be competitive as well as enable the business to cover costs and earn a profit.He decides that he will utilize a 60% mark-up on costs and informs the chef and bar manager to utilize this basis when determining prices for menu items.What method of pricing is Stefan utilizing?​

• A)​cost-plus pricing
• B)​full-cost pricing
• C)​incremental-cost pricing
• D)​value-add pricing

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Definitions:

Societies

Groups of individuals involved in persistent social interaction, or a large social grouping sharing the same geographical or virtual territory, typically subject to the same political authority and dominant cultural expectations.

K-selected Species

Species characterized by long gestation periods, few offspring, and substantial parental care, typically adapting to stable environments where competition is high.

Density

The measure of mass per unit volume of a substance, or in a biological context, the number of individuals living in a given area.

R-selected Species

species that produce many offspring, each of which is relatively unlikely to survive to adulthood.