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June 4, 2012
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Reservation Price

http://d3fzrw9hngh8qa.cloudfront.net/glossary/Reservation_Price.mp4

The reservation price for a seller is the least he or she will accept to sell a good or service. The reservation price for a buyer is the most he or she will pay for the service. If your reservation price for buying a camera is greater than your friend’s reservation price for selling it, than you can probably make a deal.

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