1.  Discuss factors that a company might look at when determining prices for its products.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1.  Discuss factors that a company might look at when determining prices for its products.

 

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The factors determining the price of the company's product is given below,

  • Cost of production- The management should fix a price above the cost price of the product.
  • Demand of product - When the demand of the product is high, the company can charge high price 
  • Market condition- according to the correct situation of the market,like boom or recession,the firm can alter their product price
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