Willingness to pay:
A) is the lowest price that a buyer is willing and able to pay for a unit of good.
B) is the highest price that a buyer is willing and able to pay for a unit of good.
C) is equal to the price of the lowest-priced goods in a consumption bundle.
D) is equal to the price of the highest-priced goods in a consumption bundle.
B
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A ________ curve shows how many units of a good or service consumers are willing to buy at various prices, and a ________ curve shows how many units of a good or service sellers are willing to offer for sale at various prices
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Countries do not in fact export the goods the H.O. theory predicts. Discuss
What will be an ideal response?
Which of the following statements is true of the relationship between average and marginal costs? a. The sum of the marginal cost of a good and its average cost is equal to the total cost of the good. b. The marginal cost of a good is inversely proportional to its average cost. c. The marginal cost of a good is equal to the first derivative of the average cost of the good
d. The average cost of a good is equal to the first derivative of the marginal cost of the good.
It takes more money to purchase the same amount of goods when prices _____. Therefore, the value of your money has ____
Fill in the blank(s) with correct word