According to the text,
A) price has only a single dimension.
B) managers rarely have a choice in pricing.
C) managers should administer their prices.
D) managers should simply mark up their costs to determine pricing.
E) managers should follow a price leader's strategy.

Question

Quizplus · Accepted Answer

The text suggests that managers should administer their prices, rather than simply marking up their costs or following another company's pricing strategy. It also emphasizes the importance of understanding the multi-dimensional nature of price, indicating that there is more to consider than just the cost of production. While the text does not mention a lack of choice in pricing, it does suggest that managers should take an active role in setting their prices rather than simply defaulting to a standard markup or following another company's lead.

According to the Text