Which of the following describes the amount a customer pays to a retailer for a product?

The retail price refers to the amount a customer pays to a retailer for a product. It is the final price set for consumers and includes all costs incurred by the retailer, as well as the desired profit margin. This price is what the consumer sees and pays at the point of sale and can vary based on various factors including competition, demand, and promotional strategies.

Cost of goods sold represents the total cost incurred by a retailer to purchase the products they sell, but it does not indicate the amount paid by consumers. Profit is the difference between total revenues and total costs, showing how much a retailer earns after all expenses are accounted for; it is not a price paid by customers. Income generally refers to the earnings of an individual or business over a period and does not specifically denote the price a customer pays for a retail product.