Most consumers expect a litre of milk to cost anywhere between $1-$3 dollars depending on if it is organic or not. Knowing this consumer expectation, a new dairy will probably charge consumers within this price range for their milk. This new dairy is engaging in:
A.
Standard markup pricing
B.
Cost-plus-percentage-of-cost pricing
C.
Customary pricing
D.
Experience curve pricing
Answer: C
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Marketing
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