Question

Define cost and price?

Answer 1

Cost is typically the expense incurred for a product or service being sold by a company. ... Price is the amount a customer is willing to pay for a product or service. The difference between the price paid and the costs incurred is the profit.


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Answer 2

Hy, Good morning

Cost÷An amount that has to be paid or given up in order to get something. 

Price÷A value that will purchase a finite quantity, weight, or other measure of a good or service