Earl was known for driving 30 miles to save a dollar on the price for his favorite beverage. Earl perceived price as ________________, while most consumers recognize price as the ______________ made to acquire a good or service.
A) money paid; overall sacrifice
B) variable cost; fixed cost
C) fixed cost; variable payment
D) overall sacrifice; monetary payment
E) break-even amount; price elasticity

Question

Quizplus · Accepted Answer

Earl perceived price as the overall sacrifice, while most consumers recognize price as the monetary payment made to acquire a good or service.

Earl Was Known for Driving 30 Miles to Save a Dollar