When Prices Are Based on the Costs for Producing,distributing,and Selling

question 99

Short Answer

When prices are based on the costs for producing,distributing,and selling the product plus a fair rate of return for the company's efforts and risks,this is called __________ pricing.

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Definitions:

Variable

An element, feature, or factor that is liable to vary or change.

Continuous Variable

A type of variable that can take an infinite number of values within a given range.

Categorical Variable

A variable that can take on a limited, and usually fixed, number of possible values, grouping individuals into categories.

Random Group Assignment

A method in experimental design to ensure every participant has an equal chance of being assigned to any group, thus minimizing preexisting differences between those assigned to different groups.