A Firm Develops a Satisfactory Product/service,evaluates the Total Expense of the Product/service,and

question 178

Multiple Choice

A firm develops a satisfactory product/service,evaluates the total expense of the product/service,and sets a price that covers all expenses and a target profit.This type of pricing is product/service driven.What is being described?

• A) marginal revenue-based pricing
• B) market-driven pricing
• C) cost-based pricing
• D) demand-based pricing

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Definitions:

Closed Sentence

In logic and mathematics, a statement or expression that is either always true or always false, containing no free variables.

Constant

A value that does not change in mathematical expressions or in programming, it represents fixed values.

Quantified Universal

A logical statement that asserts that all members of a particular category meet a specific condition.

Open Sentence

A statement or expression containing one or more variables that can produce a truth value only when values are assigned to the variables.