Which of the Following Is True About Price

question 32

Multiple Choice

Which of the following is true about price?

• A) Price has no psychological impact on customers.
• B) Price always takes the form of money paid.
• C) Price relates directly to variable costs.
• D) Marketers do not use price symbolically.
• E) It is the only marketing mix variable that can be changed quickly to respond to shifts in demand.

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Definitions:

Taste-For-Discrimination Model

An economic theory that explains how personal bias and preferences can lead to differences in wages and employment opportunities for various groups.

Prejudice

Preconceived opinions or judgments towards people or groups without sufficient knowledge, reason, or direct experience, often leading to discrimination.

Demand Theory

An economic principle that describes how the demand for goods or services changes in response to price changes, assuming all other factors remain constant.

Temporary Assistance for Needy Families

A government program in the United States designed to help needy families achieve self-sufficiency through financial assistance and support services.