Balance of market forces and cost-based pricing
i. 'Product costs are critical in setting prices, for all costs must be covered in order to make a profit.' Evaluate this statement.
ii. 'Product costs set a ceiling and prices of competitors set a floor for the prices of our products.' Evaluate this statement.

Question

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The Answer of Balance of market forces and cost-based pricing
i. 'Product costs are critical in setting prices, for all costs must be covered in order to make a profit.' Evaluate this statement.
ii. 'Product costs set a ceiling and prices of competitors set a floor for the prices of our products.' Evaluate this statement.

Balance of Market Forces and Cost-Based Pricing