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- Zone Agreement
- Lower bound (firm cost)
- Upperbound (customer budget)
- Contract Price
- Buyer's surplus
- Seller's surplus
Reference Pricing: Internal Reference Prices
Consumers have a set price or price range in their mind.
Reference Pricing: External Reference Prices
The price consumers see at the store or hear about from ads or friends
External Reference Prices form our Internal Reference Prices
Repeated external reference price will help increase internal reference prices.
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