Shin's uncompensated demand for widgets is given by Q = 10/p.According to this demand,Shin's Marginal Willingness to Pay function is
A) 10/Q.
B) 10/p.
C) 10Q.
D) -10/p².

Question

Quizplus · Accepted Answer

The marginal willingness to pay is the inverse of the demand function. Since the demand function is Q = 10/p, the marginal willingness to pay is p = 10/Q, which corresponds to option A.

Shin's Uncompensated Demand for Widgets Is Given by Q =