Economy, asked by nafishak933, 5 months ago

what is the difference between willingness to pay and actual payment called in economics​

Answers

Answered by patelpurushottam970
6

Answer:

The price of any transaction will thus be any point between a buyer's willingness to pay and a seller's willingness to accept, the net difference of which is known as economic surplus. Several methods have been developed to measure consumer willingness to pay or accept payment.

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