A consumer will be most likely to buy a product when Select one: a. The perceived value of the product far exceeds its price charged b. The perceived value of the product far exceeds its cost of production c. The value of product is perceived to be equivalent to the price d. The cost to produce the product is equivalent to its price

a. The perceived value of the product far exceeds its price charged.

Explanation:

a. The perceived value of the product far exceeds its price charged.

Option "a" is correct because the consumer buys the commodity when the perceived value is more than the price. The perceived value can be determined by subtracting the perceived cost to the customer from the expected price. Therefore, when the consumer perceived value is more than the price then the consumer is most likely to buy the commodity.

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