____ refers to the expenditures a customer is willing to pay for a product.

Question

Quizplus · Accepted Answer

Price refers to the amount of money that a customer is willing to pay for a product. Total cost refers to the expenses incurred by the seller in producing and distributing the product. Total cost of ownership refers to the total cost of a product over its entire lifetime, including maintenance and replacement costs. Price elasticity refers to the sensitivity of demand for a product to changes in its price.

____ Refers to the Expenditures a Customer Is Willing to Pay