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5 November, 06:29

If Billy's willingness to pay for one snowboard is $250 and his willingness to pay for a second snowboard is $400, how many snowboards would he buy if the market price of snowboards is $500?

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  1. 5 November, 08:20
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    Billy will be Zero (0) snowboard

    Explanation:

    Billy won't be buying any snowboard because Billy's willingness to pay for one snowboard is $250 and for a second snowboard is $400, both of which are under the prevailing market price of $500. If Billy wants to get the snowboard, he must be willing to pay the market price if $500. With him not willing to pay that amount, Billy would not buy any snowboard.
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