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Amy is starting a new business and is confused about how to determine the price...

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Question

Accounting

Amy is starting a new business and is confused about how to determine the price to set for her product. She comes to you for advice and you tell her, correctly, that the two factors that determine the price at which a product will sell are

a.

the cost of production and maximum price that can be charged.
b.

the market and the awareness that costs and expected sales can be used only to establish a price floor.

c.

the market and status-quo.
d.

the competition price point and product demand.

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