If price is determined as a multiple of costs, then a firm is using

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Quizplus · Accepted Answer

Cost plus pricing is a pricing strategy where a firm determines the price of its product by adding a markup or profit margin to its cost of production. This approach is commonly used by manufacturers and service providers to ensure that their costs are covered and to generate a profit. The markup or profit margin can be a fixed amount or a percentage of the cost of production.

If Price Is Determined as a Multiple of Costs, Then