Willingness to pay varies from person to person and can also differ depending on the circumstances. For example, a person may be willing to pay more for a product they need urgently or for a brand they trust, while they may not be willing to pay the same amount for a similar product from an unknown brand or if they don't need it urgently.

Solved

Willingness to Pay

Question 34

Multiple Choice

Willingness to pay:

A) is the same from person to person and is the same under varying circumstances.
B) is the same from person to person and differs under varying circumstances.
C) differs from person to person and is the same under varying circumstances.
D) differs from person to person and differs under varying circumstances.

Correct Answer: