List price in economics and finance

1K views Feb 4, 2024

Hello everyone! Have you ever wondered why the price of a product or service varies from one place to another? Or why some sellers offer discounts while others don't? The answer lies in the concept of list price. List price, also known as the manufacturer's suggested retail price (MSRP), is the price set by the manufacturer or the seller as the initial selling price of a product or service. It serves as a reference point for pricing decisions in the marketplace.

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