Question: Raoul is giving his wife a Hermès wallet for her birthday. It cost $2,000, but Raoul thinks this is a very fair value. Value here means that: Multiple Choice the product meets his needs and is offered at a price that is fair value. Raoul could not find a wallet that cost less. anyone would think that the wallet is a reasonable price. it was convenient to purchase the wallet, even though the price was not reasonable.