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The cost-plus-markup theory is an inadequate explanation of relative prices because

Sublight2097

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9 years ago

The cost-plus-markup theory is an inadequate explanation of relative prices because

The cost-plus-markup theory is an inadequate explanation of relative prices because
A) it does not explain why there is a standard percentage markup in most industries.
B) it is too simple, and simple theories are rarely as useful as more complex theories.
C) the theory is inconsistent with observable relationships between marginal costs and prices.
D) people who actually set prices do not describe the process as cost-plus.

Textbook

The Economic Way of Thinking

Edition: 13^th

Authors: Heyne, Boettke, Prychitko

Read 375 times

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Smoooth

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Sublight2097 Author

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9 years ago

Another one in the books, marking it solved.

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Smoooth

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9 years ago

No problemo Happy Dummy

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