The price you are willing to pay for a good depends on the amount of marginal utility you expect to derive from consuming it.

Name: The price you are willing to pay for a good depends on the amount of marginal utility you expect to derive from consuming it.
Brand: Quizplus
Rating: 4.8 (47 reviews)

Question

Quizplus · Accepted Answer

The price a consumer is willing to pay is often linked to the marginal utility, which is the additional satisfaction or benefit derived from consuming one more unit of a good.

The Price You Are Willing to Pay for a Good