Suppose Takumi's willingness to pay for one snowboard is $250 and his willingness to pay for a second snowboard is $400. How many snowboards would Takumi buy if the market price of snowboards is $500?
A) 0
B) 1
C) 2
D) The amount of snowboards purchased would depend on Takumi's income.

Question

Quizplus · Accepted Answer

Takumi would not buy any snowboards because the market price of $500 is higher than his willingness to pay for either the first ($250) or second ($400) snowboard.

Suppose Takumi's Willingness to Pay for One Snowboard Is $250