Consumers are willing to pay a higher price for a ______- quality good because it provides them with______benefits.

Question

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Consumers are willing to pay a higher price for a higher-quality good because it provides them with more benefits. Higher-quality goods usually have better performance, durability, and reliability that can save consumers money in the long run by avoiding repair and replacement costs. They are also associated with prestige, status, and an overall positive image, which consumers may value highly.

Consumers Are Willing to Pay a Higher Price for a ______-