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Illustrates the case of customary pricing with details

Illustrates the case of customary pricing with details?

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Customary pricing:

Under the case of several commodities the prices get fixed since they have prevailed over a long period of time. For illustration as: the price of cup of tea or coffee. Under short the prices are fixed through custom. The price will vary only while the cost changes significantly. This is also termed as conventional pricing.

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