Under cost-plus pricing, the more price elastic the demand is for a product, the higher the markup should be.

Name: Under cost-plus pricing, the more price elastic the demand is for a product, the higher the markup should be.
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Quizplus · Accepted Answer

Under cost-plus pricing, a higher markup is typically applied when demand is less price elastic, as consumers are less sensitive to price changes, allowing for higher prices without significantly reducing quantity demanded.

Under Cost-Plus Pricing, the More Price Elastic the Demand Is