Timothy and his wife are considering the purchase of a new car. In addition to the price, they are also considering the cost of insurance, gasoline, maintenance, finance charges, and license fees. All of these factors combined represent the _____.
A) value
B) price
C) opportunity cost
D) consumer cost
E) value proposition

Question

Quizplus · Accepted Answer

Price is everything the consumer must surrender in order to receive the benefits of owning/using the product.

Timothy and His Wife Are Considering the Purchase of a New