Any consumer trying to decide whether to buy a given good or service will base the decision

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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?
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Principles of Economics

ISBN: 978-0073511405

5th edition

Authors: Robert Frank, Ben Bernanke

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