Question $5(1$ point$)$

Standard markup pricing refers to

adjusting the price of a product so it is $"$in line" with that of its largest competitor.

setting the price of a line of products at a number of different price points.

setting prices to achieve a profit that is a specified percentage of the sales volume.

increasing the price slightly to protect against undue profit losses from unforeseen environmental forces.

adding a fixed percentage to the cost of all items in a specific product class.

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