Class Intro 17
Price Setting in the Business World
Use of Mark Ups: Wholesalers and Retailers
Average Cost Pricing
Types of Costs: Fixed Costs; Sunk Costs; Variable Costs; Total Costs; Average Costs; Average Fixed Costs; Average Varibale Costs
Contribution margin: contribution per unit
Break-even Analysis: by units, by revenue; determining price
At what volume of sales does a the product "break even", at different price points.