Supermarket managers use standard markup pricing because it is particularly suited to situations when

Multiple Choice

there is a large number of products and estimating the demand for each would be difficult and time consuming.

there is a policy of selling every item in a product line at the same price regardless of the product class.

there is a specific profit goal that needs to be achieved.

there is a large number of product lines, all with basically the same product attributes.

the products are perishable or seasonal.