Standard markup pricing refers to
A)adjusting the price of a product so it is "in line" with that of its largest competitor.
B)setting the price of a line of products at a number of different price points.
C)adding a fixed percentage to the cost of all items in a specific product class.
D)setting prices to achieve a profit that is a specified percentage of the sales volume.
E)increasing the price slightly to protect against undue profit losses from unforeseen environmental factors.

Question

Quizplus · Accepted Answer

Standard markup pricing involves adding a fixed percentage to the cost of all items in a specific product class. This ensures that prices are consistent and that a standard profit margin is achieved.

Standard Markup Pricing Refers to