Explain what factors are involved in the development of a pricing strategy and explain the relationship between costs and prices.
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Explain what factors are involved in the development of a pricing strategy and explain the relationship between costs and prices.
There is an intrinsic relationship between costs and prices. If the price is above the average total cost of the firm then the firm earns a profit. If the price is greater than the average variable cost and less than average total ...
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This answer provides you an excellent discussion on pricing strategy
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