All of the Following Statements About Standard Markup Pricing Are

Multiple Choice

All of the following statements about standard markup pricing are true except

A) high-volume products usually have smaller markups than do low-volume products.
B) the percentage markup depends on the type of retail store and the product involved.
C) markups must cover all expenses of the store, pay for overhead costs, and contribute something to profits.
D) summing the total unit cost of providing a product or service and adding a specific amount to the cost to arrive at a price.
E) supermarket managers have such a large number of products that estimating the demand for each product as a means of setting price is impossible.