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Acadia University
Business Administration
BUSI 2423
Harish Kapoor

1 standard markup pricing entails adding a fixed percentage to the cost of all items in a specific product classtypically this strategy is used when a store has such a large number of products that estimating the demand for each product as a means of setting price is impossible 2 costplus pricing involves summing the total unit cost of providing a product or service and adding a specific amount to arrive at a pricecostconcept check1 what is the difference between fixed cost and variable cost answer fixed costs are stable and do not change with the quantity of the product that is produced variable costs on the other hand vary directly with the quantity of the product that is produced and sold2 what is the breakeven point answer the breakeven point is the quantity at which total revenue and total cost are equal and beyond which profits occurs plus pricing generally assum
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