Determine the number od people whi are willing to oay a certain amount
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Willingness to pay (WTP) is the maximum price at or below which a consumer will definitely buy Many methods to measure WTP were presented in the literature. Cost-benefit analysis .
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Answer:Willingness to pay is the maximum price at or below which a consumer will definitely buy one unit of a product. This corresponds to the standard economic view of a consumer reservation price. Some researchers, however, conceptualize WTP as a range.
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