The lowest price a firm can charge and still attain its profit goal becomes its
A) customary price.
B) flexible price.
C) price ceiling.
D) price floor.

Question

Quizplus · Accepted Answer

The price floor is the minimum price a firm can set for its products or services to ensure it meets its profit goals. It represents the lowest price at which selling the product still allows the firm to achieve its desired level of profit.

The Lowest Price a Firm Can Charge and Still Attain