Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter10: Cost Analysis For Management Decision Making
Section: Chapter Questions
Problem 20Q: What is the purpose of the analysis of distribution costs?
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Question
What is importants of Price and quality?
Expert Solution
Step 1
Price plays an important role for buyers and sellers both because the seller wants to charge a high price and maximize his profits. While on the other hand buyer wants to pay the minimum price to achieve cost-benefit.
So there comes a trade-off where both buyer and seller agrees because if the seller charges a higher price, the buyer will shift to substitute.
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