________ is pricing in which an entrepreneur initially determines his or her cost structure and then determines what profit margin is desired and adds that to the cost.
Fill in the blank(s) with the appropriate word(s).
Cost-plus pricing
Cost-plus pricing is pricing in which an entrepreneur initially determines his or her cost structure and then determines what profit margin is desired and adds that to the cost. Although the "plus" aspect can be determined in a variety of ways, the most common approach is simply adding a given percentage to the cost basis for the business.
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