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Reservation Price
The maximum amount a buyer is willing to pay for a good or service or the minimum amount a seller is willing to accept.
English Auction
An auction format where buyers bid openly against one another, with each subsequent bid higher than the previous, until the highest bidder wins.
Willingness To Pay
The maximum amount a consumer is ready to pay for a particular good or service.
Expected Revenue
The anticipated amount of money that a business expects to receive over a certain period, often calculated by multiplying the sales price by the expected quantity sold.
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