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The price a business should charge for an item is typically determined by several factors, including production costs, market demand, competitor pricing, and perceived value. Businesses often use pricing strategies such as cost-plus pricing, value-based pricing, or competitive pricing to set their prices. Additionally, psychological pricing techniques, such as charm pricing (e.g., $9.99 instead of $10), can influence consumer perception and behavior. Ultimately, the goal is to balance profitability with customer satisfaction.

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3w ago

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