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3. A phone manufacturer is determining a price for its product, using a cost-based pricing strategy. The fixed costs are $100,000, and the variable costs
3. A phone manufacturer is determining a price for its product, using a cost-based
pricing strategy. The fixed costs are $100,000, and the variable costs are $50,000. If
1,000 units are produced, and the company wants to have a 30 percent markup, what is
the price of the phone?
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