What does a consumer's willingness to pay measure
A)the cost of a good to the buyer
B)how much a buyer values a good
C)how much a buyer has to pay to receive a good
D)how much a seller receives from the sale of a good

Question

Quizplus · Accepted Answer

A consumer's willingness to pay measures how much a buyer values a good. It is the maximum price a buyer is willing to pay for a certain product or service. It is not the actual cost of the good to the buyer, the amount a buyer has to pay to receive the good, or how much a seller receives from the sale of the good.

What Does a Consumer's Willingness to Pay Measure