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  3. 500 words please explain what are: (1) refere

500 WORDS PLEASE Explain what are: (1) Reference prices (2) Internal Reference Prices (3) External Reference Prices...

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Operations Management

500 WORDS PLEASE


Explain what are: (1) Reference prices (2) Internal ReferencePrices (3) External Reference Prices –Please give examples ofinternal and external reference prices.

Answer & Explanation Solved by verified expert
3.8 Ratings (442 Votes)
1 Reference Price Reference price is the price which the buyer or consumer is willing to pay for buying the product It is the price which a person expects to pay based on past experience or knowledge Consumers often establish reference prices by    See Answer
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