The reservation price or the maximum that most consumers would pay for a given product is known as the ________ price.
A) expected future
B) usual discounted
C) upper-bound
D) typical
E) historical competitor

Question

Quizplus · Accepted Answer

The reservation price represents the upper-bound price that consumers are willing to pay for a product. It is the maximum price they are willing to pay. Therefore, the correct answer is C, upper-bound price. The other options, such as expected future, usual discounted, typical, and historical competitor, do not accurately describe the reservation price.

The Reservation Price or the Maximum That Most Consumers Would