Mark believes he should pay more than $49.95 for a motel room; this price is his internal reference price.

Name: Mark believes he should pay more than $49.95 for a motel room; this price is his internal reference price.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

An internal reference price is the price a consumer expects to pay for a product or service, and if Mark believes he should pay more than $49.95, then $49.95 is his internal reference price.

Mark Believes He Should Pay More Than $49