MANAGEMENT

Detailed explanation-1: -Solution : Pricing is the element of marketing mix that affects the revenue and profits of a firm.

Detailed explanation-2: -There are five elements to consider: product, price, place, promotion, and people. Learn more about how these elements can help enhance the effectiveness of a business’s marketing effort.

Detailed explanation-3: -Those determinants include firm size, liquidity, solvency, financial leverage, and financial adequacy while the financial performance is evaluated by three different ratios: return on assets (ROA), return on equity (ROE), and return on sales (ROS).

Detailed explanation-4: -The number of production units, production per unit, direct costs, value per unit, mix of enterprises, and overhead costs all interact to determine profitability. The most basic factor affecting profit in any business is the number of production units.