In the assigned article, Mark Stiving presents three pricing concepts: cost plus pricing, volume-based discounting, and pricing is not driven by supply and demand. Each of the pricing concepts is described including application of the concept. This article ties into our studies this week of cost-volume-profit analysis as pricing is a crucial piece which is often misunderstood.

respond in full sentences to the following requirements:

1. Summarize how each of the three pricing concepts tie into our studies from this week.
2. Select one pricing concept to discuss how you would use it in business decisions, assuming you had the authority to set pricing, for a current or prior work or volunteer entity.
3. Wrap up your discussion by describing one key point that you learned or which surprised you from this assignment.

For your responses, focus on the following questions:

1. Compare and contrast your responses on how the three pricing concepts tie to this week's studies.
2. Compare and contrast your response on how you would use one of the concepts in a real-world scenario.
3. Support your responses to classmates with additional research and/or examples of your understanding of cost-volume-profit relationships.