What is the typical cost to install a NEMA 14-50 outlet?

I got a price quote for installing a NEMA 14-50 240v outlet with a 50 amp circuit. They said it would cost $995. Is that a fair price, or should I ask someone else for a different quote?

I paid $250 to have a 14-50 outlet installed directly beneath my panel in the garage.

The cost can vary significantly based on the installation location, as wiring for a 50-amp outlet can be expensive.