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Question 11 (1 point) Which of the following is correct regarding the market pricing method of price setting? A key consideration when doing market pricing is to determine what percent above cost the price will be. The market pricing method is often ineffective for new technology products where customers lack understanding of the product. Market pricing relies on evaluating what competitors are charging in the market in order to set price. Break-even pricing falls within the market pricing method.
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Answer #1

Market pricing relies on evaluating what competitors are charging in the market in order to set price- is correct

In market pricing, price is based on the prices other competitors are charging for the similar products.

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