Which Product Pricing Factor Is Primarily Used by the Majority

question 21

Multiple Choice

Which product pricing factor is primarily used by the majority of American companies?

• A)Market-based
• B)Cost-based
• C)Quality-based
• D)Quantity-based

---

Definitions:

U-shaped Curve

A graphical representation showing a relationship where initial decreases are followed by increases, resulting in a curve shaped like the letter "U."

Long-run

A period in which all factors of production and costs are variable, allowing firms to adjust all input levels and technology to find the most efficient scale of operations.

Excise Tax

A specific tax levied on the sale of particular goods or services, such as alcohol and tobacco, usually aimed at discouraging consumption or raising revenue.