Question

You are a jeans producer. When you sell your jeans, consumers pay the _____ that you charge.
a) revenue
b) profit
c) price

Answer 1

explain why?

Answer 2

c) price

Answer 3

Consumers pay the price that the jeans producer charges because price represents the monetary value that is set for the jeans. It factors in various costs incurred by the producer, such as production expenses, overhead costs, marketing expenses, and desired profit margin. The price is determined based on market demand, competition, and the perceived value of the jeans by consumers. Ultimately, consumers make the decision to purchase the jeans based on their willingness to pay the price set by the producer.