What pricing concept is used if all costs are considered and a fair markup is added to determine the selling price?
A) total cost concept
B) demand-based concept
C) variable cost concept
D) fixed cost concept

Question

Quizplus · Accepted Answer

This pricing concept is known as the total cost concept as it takes into account all costs, including fixed and variable, and adds a fair markup to determine the selling price.

What Pricing Concept Is Used If All Costs Are Considered