While some consumers may feel that a low price represents a good buy, others may feel that it represents low quality. This represents
A) price lining.
B) the law of demand.
C) subjective price.
D) price elasticity.

Question

Quizplus · Accepted Answer

Subjective price refers to the perception of a product's value to the consumer, rather than its objective market price. It encompasses the idea that different consumers may perceive the value (and thus the price they are willing to pay) of the same product differently, based on personal factors such as perceived quality.

While Some Consumers May Feel That a Low Price Represents