Four Elvis fans show up for your auction: John, Paul, George, and Ringo. Each
of them would like to own the album, but there is a limit to the amount that each
is willing to pay for it. Table 7-1 shows the maximum price that each of the four
possible buyers would pay. Each buyer’s maximum is called his willingness to
pay, and it measures how much that buyer values the good. Each buyer would be
eager to buy the album at a price less than his willingness to pay, would refuse to
Four Elvis fans show up for your auction: John, Paul, George, and Ringo. Eachof them would like to own the album, but there is a limit to the amount that eachis willing to pay for it. Table 7-1 shows the maximum price that each of the fourpossible buyers would pay. Each buyer’s maximum is called his willingness topay, and it measures how much that buyer values the good. Each buyer would beeager to buy the album at a price less than his willingness to pay, would refuse to
การแปล กรุณารอสักครู่..
