Question: QUESTION 3 (Total marks = 25) (a) Many firms base their pricing decisions largely on what is necessary to recover their costs or match competitors.

QUESTION 3 (Total marks = 25) (a) Many firms base

QUESTION 3 (Total marks = 25) (a) Many firms base their pricing decisions largely on what is necessary to recover their costs or match competitors. Discuss. (10 marks) (b) Which is most important in achieving the break-even point - managing costs or generating sales? Explain. (15 marks)

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