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Explain the term Cost -pricing decisions
No business can survive unless it covers its cost of production and distribution. In large number of products, retail prices are concluded by adding a reasonable profit margin to the cost. Higher the cost, higher is likely to be price, lower the cost lower the price.
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Determine the Cost Based Pricing Under this method, price of product is fixed by adding the amount of desired profit margin to the cost of product. If a specific soap costs the
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