A practical approach that is frequently used by managers when setting normal long-run prices is the cost-plus approach.

Name: A practical approach that is frequently used by managers when setting normal long-run prices is the cost-plus approach.
Brand: Quizplus
Rating: 4.8 (42 reviews)

Question

Quizplus · Accepted Answer

The cost-plus approach involves adding a markup to the cost of producing a product or service in order to determine its selling price. This is a common method used by managers when setting prices for the long-term.

A Practical Approach That Is Frequently Used by Managers When