The company designs what it considers to be a good product,totals the expenses of making the product,and sets a price that adds a standard markup to the cost of the product.This approach to pricing is called .
A)variable pricing
B)value- based pricing
C)cost- plus pricing
D)skimming pricing
E)fixed cost pricing

Question

Quizplus · Accepted Answer

This approach to pricing is called cost-plus pricing, where the company sets a price by calculating the cost of producing the product and adding a standard markup (percentage) to it. This pricing method is commonly used in manufacturing industries where the cost of production is relatively high and fixed.

The Company Designs What It Considers to Be a Good