ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The price of the product must ALWAYS be;
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the same
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at a level consumers will pay
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the lowest it can be
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the highest it can be
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Explanation:
Detailed explanation-1: -The Formula for Consumer Surplus Pmax = the price a consumer is willing to pay.
Detailed explanation-2: -The reservation price is defined as the maximum price that a consumer is willing to pay for a particular product or service.
Detailed explanation-3: -Quantity Demanded-the amount of a good that consumers choose to buy at a particular price.
There is 1 question to complete.