The correct answer is: Minimum pricing is based on relevant costs.

A minimum price is the price that would have to be charged so that the incremental costs of producing and selling an item plus the opportunity costs of the resources consumed in making and selling it are just covered.

Marginal cost plus pricing is also known as full cost plus pricing is false. Marginal cost plus pricing is also known as mark-up pricing.

Full cost plus pricing is used for profit maximisation is false. Full cost plus pricing fails to recognise that since demand may be determined by price, there will be a profit-maximising combination of price and demand.

Demand is a main factor in the full cost plus approach to pricing is false. Full cost plus pricing does not recognise the economic relationship between price and demand.