Amit is willing and able to pay $330 for a new game console. However, the game console is on sale for $250, which is the price Amit pays. The $250 is his willingness-to-pay.

Name: Amit is willing and able to pay $330 for a new game console. However, the game console is on sale for $250, which is the price Amit pays. The $250 is his willingness-to-pay.
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Question

Quizplus · Accepted Answer

Amit's willingness-to-pay is $330, but he pays the sale price of $250 for the game console.

Amit Is Willing and Able to Pay $330 for a New