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What should an entrepreneur consider while setting price?

Answer and explanation

Correct answer: Cost, customer affordability and market price

A sensible price should cover relevant costs and support a reasonable return, while remaining acceptable to the target customer and consistent with market conditions and competing offers. The entrepreneur must balance these factors rather than follow personal preference alone. Option A is correct. The highest possible price or harming competitors is not a sound pricing principle.

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PricingMarketBusiness-FinanceEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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