All of these statements about price are true except which?Multiple Choice The price must generate enough sales dollars to pay for the cost of developing, producing, and marketing the product. The price for a product or service must earn a profit for the company. Small changes in price can have big effects on both the number of units sold and company profit. For most products and services, there is an agreed-upon price range set by makers. The price must be “right”—in the sense that customers must be willing to pay it.

Price can be defined as some compensation (in monetary terms) that is given by an individual to…

Answered: All of these statements about price are…

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

Related questions

Question

All of these statements about price are true except which?

Multiple Choice

The price must generate enough sales dollars to pay for the cost of developing, producing, and marketing the product.
The price for a product or service must earn a profit for the company.
Small changes in price can have big effects on both the number of units sold and company profit.
For most products and services, there is an agreed-upon price range set by makers.
The price must be “right”—in the sense that customers must be willing to pay it.