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Discuss price elasticity of demand and its impact on pricing . How does this elasticity affect the markup over cost in setting prices? What is

Discuss price elasticity of demand and its impact on pricing.
How does this elasticity affect the markup over cost in setting prices?
What is the role of variable costing in pricing?
What are the problems associated with using absorption costing for setting prices?
Discuss the role of using target costing for pricing.

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