Which of the Following Statements Is True About the Determination

Multiple Choice

Which of the following statements is true about the determination of a specific price for a product?

A) Price elasticity is not relevant when determining a specific price.
B) It occurs in the fifth stage of the price-setting process.
C) Only fixed costs should be considered when setting the specific price.
D) When no government controls exist, pricing is a flexible way to adjust the marketing mix.
E) Demand is not a consideration when establishing a specific price.