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 the above statements about price are true.

Question

Quizplus · Accepted Answer

Price can be influenced by a variety of factors, and it is not always directly linked to the satisfaction consumers receive from a product. For example, luxury goods may have high prices even though they do not provide significantly more value or satisfaction than lower-priced alternatives.

Which of the Following Statements About Price Is True