Definition of Reasonable price:
Price that provides the best total value comprising of availability, delivery time, fitness for purpose, payment terms, quality, quantity, and service. A reasonable price is not necessarily the lowest price.
Commercial decision reached jointly between a buyer and seller, reflecting a judgment influenced by the economic realities of the marketplace and the relative bargaining powers of the parties. Generally, it is high enough to cover the sellers costs and a reasonable margin, but not high enough for the seller to realize monopolistic profit.
Meaning of Reasonable price & Reasonable price Definition