Solved: What does the buyers reservation price measure, Microeconomics

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What does the buyers reservation price measure

Discussion:

Write a one-page essay answering the following questions:

Any consumer trying to decide whether to buy a given good or service will base the decision on his or her reservation price and the existing market price. When making this decision, what does the buyer's reservation price measure? What does the market price measure? Give examples

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Microeconomics: What does the buyers reservation price measure

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