Fairly-priced ales on bar drunk by English (10)

I believe the answer is:

reasonable

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'fairly-priced' is the definition.
I can't tell whether this definition defines the answer.

'ales on bar drunk by english' is the wordplay.
'drunk' indicates an anagram.
'by' means one lot of letters go next to another.
'english' becomes 'E' (abbreviation as in OED).
'ales'+'on'+'bar'='alesonbar'
'alesonbar' is an anagram of 'reasonabl'.
'reasonabl'+'e'='REASONABLE'

Can you help me to learn more?

(Other definitions for reasonable that I've seen before include "description of rationality" , "Fair - inexpensive" , "Not excessive or extreme" , "Sound" , "Fair, rational" .)

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