Dynamic pricing often involves sophisticated algorithms and machine learning models by considering numerous variables and adjusting prices in real-time based on market conditions, demand, competition, and other dynamic factors.

Generally, two common preliminary formulas are used -

1, Cost-Plus Pricing: This formula is used to determine the price by adding a markup to the cost of the product or service and can be expressed as Price=Cost+(Cost×Markup Percentage)

• Demand-Based Pricing: This strategy is used for setting prices based on the demand for a product or service at a particular time and the common formula used is: Price=Base Price×Demand Multiplier

thanks a lot; id appreciate that Neelima Nimbhorkar