Which of the following is NOT one of the possible consumer reference prices?
A) typical price
B) actual future price
C) last price paid
D) expected future price
E) upper-bound price

Question

Quizplus · Accepted Answer

The actual future price is not a consumer reference price since it cannot be predicted or referenced in advance. The other options are possible consumer reference prices, with typical price referring to the average or common price of a product, last price paid referring to the most recent price paid, expected future price referring to a prediction of the future price, and upper-bound price referring to the highest price a consumer is willing to pay.

Which of the Following Is NOT One of the Possible