Exhibit 39-9 -Refer to Exhibit 39-9.Under a target price system,with the target price set at P₁,the price at which consumers will buy the food item is A) P₁. B) P₂. C) P₃. D) P₄. E) There is not enough information to answer the question.

Question

Quizplus · Accepted Answer

In a target price system, the price at which consumers will buy the food item is set at the target price or lower. Here, the target price is P₁. Therefore, the price at which consumers will buy the food item is P₃ or lower. Option C is the closest value to P₃.

Exhibit 39-9 -Refer to Exhibit 39-9.Under a Target Price System,with the Target