Which of the following statements about price is true?
A) Price and revenue are synonyms.
B) Price always equals some monetary figure.
C) Price is not necessarily based on the satisfaction consumers receive from a product.
D) High prices result in high profits.
E) All of these statements about price are true.

Question

Quizplus · Accepted Answer

Price can relate to anything with perceived value,not just money.The price paid is based on the satisfaction consumers expect to receive from a product,not necessarily what they actually receive.

Which of the Following Statements About Price Is True