Question: This is a two part question: What is the role of costs in the determination of a profitable pricing strategy? Describe how different costs (e.g.,

This is a two part question:

What is the role of costs in the determination of a profitable pricing strategy?

Describe how different costs (e.g., incremental, avoidable, opportunity and non-incremental fixed and sunk) contribute to the price-cost trade-off and ultimately to a supplier's profitability.

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