A consumer spends less time searching for a good when her reservation price is:

Name: A consumer spends less time searching for a good when her reservation price is:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When a consumer's reservation price is increased, it means they are willing to pay more for a good. This typically reduces the incentive to spend a lot of time searching for lower prices or better deals, as the consumer is less sensitive to price differences within a certain range.

A Consumer Spends Less Time Searching for a Good When