Which of the following best describes customary prices?
A) prices offered at the wholesale level as an incentive to buyers to purchase a specific product
B) retail prices that consumers expect to pay as the result of social habit or tradition
C) prices that are adjusted to the different geographic areas in which the products are sold
D) prices designed to constrain the amounts sold to a level desired by government

Question

Quizplus · Accepted Answer

Customary prices are those that consumers expect to pay based on social habits or traditions. These are established over time and become the norm for certain goods or services in specific contexts, influencing consumer expectations and behaviors.

Which of the Following Best Describes Customary Prices