The _____ that may affect a consumer's acceptable range of prices include the presence or absence of time,the usage situation,and social factors.
A) situational factors
B) elastic demand
C) variable cost
D) price perception
E) value factors

Question

Quizplus · Accepted Answer

Situational factors such as time availability, usage situation,and social norms can greatly impact a consumer's acceptable range of prices. For example, a consumer may be willing to pay more for a product if they are in a rush and need it immediately, or if it is perceived to be socially desirable. These situational factors can make a consumer more or less price sensitive, which in turn affects their willingness to pay for a product or service.

The _____ That May Affect a Consumer's Acceptable Range of Prices