George and Alice Renfro decided to start a family business in 1990.Its product-chowchow,a southern regional food.To determine how they would price the chowchow,the Renfros had to: (1)examine the demand for the product and how much it would cost to distribute the product to area grocery stores.For the Renfros,Step 1 of their price-setting process consists of
A)identifying pricing constraints.
B)estimating break-even points and revenue points.
C)setting the list price.
D)selecting an approximate price level.
E)determining cost,volume,and profit relationships.

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The Answer of George and Alice Renfro decided to start a family business in 1990.Its product-chowchow,a southern regional food.To determine how they would price the chowchow,the Renfros had to: (1)examine the demand for the product and how much it would cost to distribute the product to area grocery stores.For the Renfros,Step 1 of their price-setting process consists of
A)identifying pricing constraints.
B)estimating break-even points and revenue points.
C)setting the list price.
D)selecting an approximate price level.
E)determining cost,volume,and profit relationships.

George and Alice Renfro Decided to Start a Family Business