The maximum price that a buyer will pay for a good is called the
A)cost.
B)willingness to pay.
C)Equity.
D)efficiency.

Question

Quizplus · Accepted Answer

The maximum price that a buyer is willing to pay for a good is called their willingness to pay. This is determined by the buyer's perceived value of the good, their budget constraints, and other factors. The other options listed, such as cost, equity, and efficiency, are not related to the maximum price a buyer is willing to pay.

The Maximum Price That a Buyer Will Pay for a Good