Price lining involves two basic decisions: defining the range of a firm's prices (floor and ceiling), and setting specific points within that range.

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Price lining involves determining the range of prices a company will charge for its products (the floor being the lowest price and the ceiling the highest) and then establishing specific price points within that range to target different customer segments or product quality levels.

Price Lining Involves Two Basic Decisions: Defining the Range of a Firm's