Question: List and describe three ways a firm can determine long-run prices. As part of your answers, be sure to describe when each method would be

List and describe three ways a firm can determine long-run prices. As part of your answers, be sure to describe when each method would be most appropriate and the strengths and weaknesses of each method.

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In the long run the price must cover all the costs whether fixed or variable cost The three ways a firm can determine the long run prices are 1 Full costing plus pricing method 2 Penetration pricing m... View full answer

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