A(n) ________ is used by economists when referring to charging each customer a price that reflects that individual's assessment of the value of a product.
A) producer surplus
B) reservation price
C) value price
D) efficiency frontier
E) competitive advantage.

Question

Quizplus · Accepted Answer

The reservation price is the maximum price a consumer is willing to pay for a product, reflecting their individual assessment of its value.

A(n) ________ Is Used by Economists When Referring to Charging