A reservation price reflects the market price of a good or service. reflects the price required to guarantee that a consumer will be able to purchase an item. represents the average benefit of a good to consumers in the market represents the maximum a consumer is willing to pay for a good or service

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Business

Grady Kelly

20 January, 01:47

A reservation price reflects the market price of a good or service. reflects the price required to guarantee that a consumer will be able to purchase an item. represents the average benefit of a good to consumers in the market represents the maximum a consumer is willing to pay for a good or service

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Brenden Kent · Answer 1

represents the maximum a consumer is willing to pay for a good or service

Explanation:

In marketing, the reservation price of a good or service is the maximum price that a consumer is willing to pay for that good or service. On the other hand, it also represents the minimum price at which a firm is willing to sell their goods or services. The reservation price sets a price interval for the commercialization of the goods or services.