How are prices fixed by a seller/producer? – InterviewSolution

1.	How are prices fixed by a seller/producer?
Answer» The traditional economic theories of pricing were based on the demand and the supply. In general the prices are fixed on the basis of full average cost of production per unit plus a margin of normal profit or some satisfactory margin of profit. Producer sells the goods to the seller. Seller in turn adds his profits and fixes the prices.

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