-What pricing strategy did the architectural firm use to set the construction price for the Rock and Roll Hall of Fame, which is shown in the photo above?

Question

Quizplus · Accepted Answer

Cost-plus pricing is a pricing strategy in which the price of a product or service is set at a level that covers the costs of production plus a desired profit margin. This strategy is often used when the cost of production is high or when the product or service is unique. In the case of the Rock and Roll Hall of Fame, the architectural firm used cost-plus pricing to set the construction price because the cost of construction was high and the building was unique.

-What Pricing Strategy Did the Architectural Firm Use to Set