Maximize profits by using markup pricing strategy

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Reference no: EM131097121

Which of the following statements is correct

It is not possible to maximize profits by using a markup pricing strategy.

To maximize profit, a firm should apply a uniform markup to each product it sells.

Using markup pricing is more complicated than simply setting price equal to marginal cost.

The profit-maximizing firm's ability to mark up price over average cost is limited by the price elasticity of demand for the product in question.

Reference no: EM131097121

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