Markup pricing is a cost-plus method of pricing that arrives at a markup percentage high enough to cover operating expenses, subsequent price reductions, and desired profit levels.

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Quizplus · Accepted Answer

Markup pricing is indeed a cost-plus method of pricing where a markup percentage is added to the cost of the product to cover operating expenses, price reductions, and desired profit levels.

Markup Pricing Is a Cost-Plus Method of Pricing That Arrives