Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
What is importants of Price and quality?
Expert Solution
Step 1
Price plays an important role for buyers and sellers both because the seller wants to charge a high price and maximize his profits. While on the other hand buyer wants to pay the minimum price to achieve cost-benefit.
So there comes a trade-off where both buyer and seller agrees because if the seller charges a higher price, the buyer will shift to substitute.
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