Although many factors can influence the price of a product,the primary determinants are:
A)the costs of manufacturing and distributing the product.
B)the demand for the product and the cost to the seller for the product.
C)the demand by consumers and the perceived quality of the product.
D)the distribution and promotion strategies for the product.

Question

Quizplus · Accepted Answer

The demand for the product and the cost to the seller for the product are the primary determinants of the price. The costs of manufacturing and distributing the product, the perceived quality of the product, and the distribution and promotion strategies are all important factors, but they are secondary to the demand and cost factors. Ultimately, the seller wants to set a price that maximizes profit, and this will depend on the intersection of supply and demand for the product.

Although Many Factors Can Influence the Price of a Product,the