Questions
Single choice
Willingness to pay
Options
A.a. measures the value that a buyer places on a good.
B.b. is the amount a seller actually receives for a good minus the minimum amount the seller is willing to accept.
C.c. is the maximum amount a buyer is willing to pay minus the minimum amount a seller is willing to accept.
D.d. is the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.
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Step-by-Step Analysis
The question asks about the concept of willingness to pay in the context of a transaction.
Option a: 'a. measures the value that a buyer places on a good.' This aligns with the core idea of willingness to pay, which is the maximum amount a buyer would be prepared to pay to acquire the good, reflecting th......Login to view full explanationLog in for full answers
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