What pricing concept is used if all costs are considered and a fair mark-up is added to determine the selling price?
A) Total cost concept
B) Demand-based concept
C) Variable cost concept
D) Fixed cost concept

Question

Quizplus · Accepted Answer

The pricing concept used in this scenario is the total cost concept, where all costs (including fixed and variable costs) are taken into consideration and a fair mark-up is added to determine the selling price.

What Pricing Concept Is Used If All Costs Are Considered