Select from the options which are the appropriate words to complete the following text: Pricing products using the ________________ approach means identifying an estimated price that customers are willing to pay, and then calculating a cost to earn the desired profit. ________________-based pricing, on the other hand, adds a markup component to the cost basis to determine a prospective selling price.

Question 5 options:

Added cost; relevant cost

Added cost; target cost

Target cost; relevant cost

Target cost; added cost

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Select from the options which are the appropriate words to complete the following text: Costs that are often ___________ for short-run pricing decisions, such as fixed costs that cannot be changed, are generally ___________ in the long run because they can be changed in the long run.

Question 11 options:

relevant, relevant

irrelevant, irrelevant

relevant, irrelevant

irrelevant, relevant

______________________________________________