A retailer buys a pair of socks that were originally priced at $1 a pair including the manufacturer's profit margin of 7%. The exporter takes only a 3% margin on the socks, the wholesaler takes a 5% margin on the socks, a distributor earns an 11% margin on the socks, and the retailer sells them at $3.00 a pair. Which of the following statements about the process are accurate?

The retailer has taken a straight Keystone mark-up to simplify the pricing decisions.

The consumer is not subject to successive marginalization since the socks are only $3.

The retailer is using a bait-and-switch tactic not a loss leader approach.

The retailer is employing a demand-oriented strategy.

None of the above.