Cost-based pricing results in a high price when demand is high and a low price when demand is low.

Name: Cost-based pricing results in a high price when demand is high and a low price when demand is low.
Brand: Quizplus
Rating: 4.9 (38 reviews)

Question

Quizplus · Accepted Answer

Cost-based pricing is based on the cost of producing a product, and does not take into account demand. The price is set based on the cost of materials, labor, overhead, and desired profit margin. Therefore, the price will remain the same regardless of demand.

Cost-Based Pricing Results in a High Price When Demand Is