Which of the following is the the maximum price someone is willing to pay for a product?

Question

Quizplus · Accepted Answer

The maximum price someone is willing to pay for a product is referred to as the reservation price. The external price refers to the actual price of the product in the market, the internal price refers to the perceived value of the product by the consumer, and the reference price is the price with which consumers compare the actual price of the product. Therefore, B is the correct choice.

Which of the Following Is the The Maximum Price Someone