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How do companies make long-run pricing decisions? How do companies determine target costs? Why is it important for managers to distinguish cost incurrence from locked-in

How do companies make long-run pricing decisions?
How do companies determine target costs?
Why is it important for managers to distinguish cost incurrence from locked-in costs?
How do companies price products using the cost-plus approach?
Describe life-cycle budgeting and life-cycle costing. When should companies use these techniques?

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