The minimum price that most consumers would pay for a given product is known as the ________ price.
A) everyday low
B) usual discounted
C) fair
D) typical
E) lower-bound

Question

Quizplus · Accepted Answer

The "lower-bound" price refers to the minimum price that most consumers are willing to pay for a product, below which they may perceive the product as low quality or not worth purchasing.

The Minimum Price That Most Consumers Would Pay for a Given