"It is the most common technique of fixing price for a product where the manufacturer charges a price to cover the cost of producing a product plus a reasonable profit. This method is simple, but it does not encourage the efficient use of resources." Which pricing method is being discussed here?

Fixed pricing method Variable pricing method Cost plus method Skimming Method

Cost plus method

The most common technique is cost-plus pricing, where the manufacturer charges a price to cover the cost of producing a product plus a reasonable profit. The cost-plus method is simple, but it does not encourage the efficient use of resources.