The most accurate statement regarding how the market sets prices is:
Prices are set by how much consumers will pay.
This reflects the concept of demand, where consumer willingness to pay influences the pricing of goods and services in the market.
Which is true of how the market sets prices?
(1 point)
Responses
Prices are set by the expected sales.
Prices are set by the expected sales.
Prices are set by how much consumers will pay.
Prices are set by how much consumers will pay.
Prices are set by the size and location of market outlets.
Prices are set by the size and location of market outlets.
Prices are set by doubling the equilibrium price.
1 answer