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Your retail price can be determined using three pricing models: cost-based pricing, competition-based pricing or customer-based pricing. Cost-based pricing sets your price based on product and operating costs. Competition-based pricing uses local competitors prices to decide on retail charges.
A pricing schedule is a function that maps the quantity of a good purchased to the total price paid.
A pricing schedule is often a sheet of information that displays the charges for a companys goods or services. For example, if a company charges a slightly decreasing rate for increased volume purchases, this sheet is typically called a pricing schedule.
Retail Price = Cost of Goods + Markup. Markup = Retail Price Cost of Goods.