Cost-based pricingis an approach where the price of a product or service is determined based on the costs incurred in producing or providing it. It takes into account the expenses associated with manufacturing, labor, materials, and overhead costs.Out of the options provided, thecost-based pricing approachis best represented by option C, "Break-even pricing." Break-even pricinginvolves setting the price of a product or service at a level that covers the costs of production, allowing the business to break even and not make a profit or incur a loss. This approach aims to determine the minimum price needed to cover the fixed and variable costs associated with producing the product or service.Let's consider an example to better understand break-even pricing. Suppose a company manufactures a widget and incurs costs of $10,000 for materials, labor, and overhead expenses to produce 1,000 widgets. In this case, the cost per widget would be $10 ($10,000 divided by 1,000). To break even, the company needs to sell each widget for at least $10 to cover the costs. If the company sets the price at $12 per widget, it would generate a profit of $2 per unit sold.In summary, break-even pricing is acost-based pricingapproach where the price of a product or service is set to cover the costs of production and achieve a break-even point.Learn more aboutcost based pricing:brainly.com/question/14450170#SPJ11...

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