If a consumer is not willing to purchase a product, her willingness to pay must be below the market price.

Name: If a consumer is not willing to purchase a product, her willingness to pay must be below the market price.
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Question

Quizplus · Accepted Answer

If a consumer is not willing to purchase a product, it means that the value she places on the product is lower than the price being charged in the market. Therefore, her willingness to pay must be below the market price.

If a Consumer Is Not Willing to Purchase a Product