In lecture, we discussed "the importance of price." According to the instructor, which of the following best reflects "the importance of price?"
a. Price is important because it is the money exchanged for ownership of a good or a service.
b. Price is important because it serves as the foundation for bartering.
C. PRICE IS IMPORTANT BECAUSE IT IS THE ONLY THING THAT PRODUCES REVENUES or profits (all else are expenses).
d. Price is important because it sets the "list price."
e. Price is important because it influences the value of a product
Answer: C