Question

What order should you set if you want to guarantee that, if executed, you get your desired price point or better?

Answer 1

To guarantee your desired price or better, set the price slightly above the equilibrium price in a market.

Step-by-step explanation:

To guarantee that you get your desired price point or better, you should set the price slightly above the equilibrium price in a market. This will give you more bargaining power and increase the likelihood of achieving your desired price.

For example, if the equilibrium price is $10, setting the price at $11 or $12 will give you a better chance of getting your desired price. This is because buyers may still be willing to pay a slightly higher price if they really want the product.

Setting the price substantially above the equilibrium price may lead to fewer buyers and lower sales, while setting it slightly below the equilibrium price may leave money on the table.