A major reason why retailers use markup pricing is that it is convenient. (True or false?)

A major reason why retailers use markup pricing is that it is convenient.
 
 Indicate whether the statement is true or false

Question 2

Markup can be stated as a percentage of the cost or as a percentage of the selling price.
 
 Indicate whether the statement is true or false

Question 3

Markup pricing is not used often by marketers because establishing a percentage markup greatly increases the complexity of the decision-making process.
 
 Indicate whether the statement is true or false

Question 4

Cost-plus pricing is popular in periods of rapid inflation.
 
 Indicate whether the statement is true or false

Question 5

One pitfall of cost-plus pricing for the buyer is that the seller may increase costs to establish a larger profit base.
 
 Indicate whether the statement is true or false

Question 6

Cost-based pricing results in a high price when demand is high and a low price when demand is low.
 
 Indicate whether the statement is true or false