Ask Question
3 May, 21:51

Willingness to pay

a. measures the value that a buyer places on a good.

b. is the amount a seller actually receives for a good minus the minimum amount the seller is willing to accept.

c. is the maximum amount a buyer is willing to pay minus the minimum amount a seller is willing to accept.

d. is the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.

+1
Answers (1)
  1. 4 May, 01:47
    0
    The correct answer is option a.

    Explanation:

    The willingness to pay for a product can be defined as the maximum amount an individual is willing to procure or obtain a product. The price of a product lies between a consumer's willingness to pay and a seller's willingness to accept.

    The willingness to accept is the minimum amount a seller is willing to accept to let go of a product. Willingness to pay indicates how valuable good is for the buyer.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Willingness to pay a. measures the value that a buyer places on a good. b. is the amount a seller actually receives for a good minus the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers