Question

A reservation price reflects the market price of a good or service. reflects the price required to guarantee that a consumer will be able to purchase an item. represents the average benefit of a good to consumers in the market represents the maximum a consumer is willing to pay for a good or service

Answer 1

represents the maximum a consumer is willing to pay for a good or service

Step-by-step explanation:

In marketing, the reservation price of a good or service is the maximum price that a consumer is willing to pay for that good or service. On the other hand, it also represents the minimum price at which a firm is willing to sell their goods or services. The reservation price sets a price interval for the commercialization of the goods or services.