A practical approach which is frequently used by managers when setting normal long-run prices is the cost-plus approach.

Name: A practical approach which is frequently used by managers when setting normal long-run prices is the cost-plus approach.
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The cost-plus approach is a practical method used by managers to set normal long-run prices. It involves adding a markup to the cost of producing or acquiring a good or service to determine the selling price.

A Practical Approach Which Is Frequently Used by Managers When