A curve that represents the consumer's "willingness to pay" is the consumer's
A) Exchange curve
B) Demand curve
C) Supply curve
D) None of the above

Question

Quizplus · Accepted Answer

The consumer's "willingness to pay" is best represented by the demand curve, which shows the quantity of a good or service a consumer is willing and able to buy at different prices. The demand curve represents the maximum price a consumer is willing to pay for a certain quantity of a good or service.

A Curve That Represents the Consumer's "Willingness to Pay" Is