What sets the ceiling for product prices?
A) product manufacturing costs
B) sellers' perceptions of the product's value
C) customer perceptions of the product's value
D) variable costs
E) break-even volume

Question

Quizplus · Accepted Answer

Customer perceptions of the product's value set the ceiling for product prices because customers will not pay more than what they perceive the product is worth.

What Sets the Ceiling for Product Prices