All of the following statements about price are true EXCEPT:

A. small changes in price can have big effects on both the number of units sold and company profit.
B. the price for a product or service must earn a profit for the company.
C. for most products and services, their prices are always the same.
D. the price must be right in the sense that customers must be willing to pay it.
E. the price must generate enough sales dollars to pay for the cost of developing, producing, and marketing the product.

The statement which is not correct for the price is that for most products and services, their prices are always the same.

The following information should be considered for the price:

Therefore we can conclude that the statement which is not correct for the price is that for most products and services, their prices are always the same.

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The following are true statements about price except that the price for most products and services are always the same. (C)

Explanation:

The price is an amount of money that is required to purchase a product. Price pays a vital role in any business as a change in price can affect the amount of quantity sold and also affects the profit. If the price of a good or service is increased, consumers might actually reduce their consumption of the good and shift to another alternative. This reduces the profit of the company.

The price must also be right as consumers must be willing to pay for the product bought. The price for the purchase of a good must be justifiable. Likewise, the price must generate enough sales to meet the cost of production. In a case whereby the price doesn't generate enough sales to meet the cost of production, there is a loss for the company.

The prices for most goods and services are different. This is due to differences in production cost. For example, the price of a car is different from a fan which is also different from a book. The differences are usually due to the production cost of the goods.

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