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Title: Which of the following statements is correct about the concept of willingness to pay? Post by: whipped on May 22, 2017 Which of the following statements is correct about the concept of willingness to pay?
A) The willingness to pay is the lowest price that a buyer is willing to pay for an extra unit of a commodity. B) The willingness to pay for a commodity increases exponentially as the consumption of the commodity increases. C) The willingness to pay for a commodity increases linearly as the consumption of the commodity increases. D) If a consumer is consuming 10 units of a commodity and he is ready to pay $2 for the eleventh unit, his willingness to pay for the eleventh unit is $2. Title: Re: Which of the following statements is correct about the concept of willingness to pay? Post by: Simpleman on May 22, 2017 Content hidden
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