Final answer:
The statement is false because buyers sometimes pay above the equilibrium price due to perceived uniqueness, scarcity, monopolistic control, immediate need, or consumer surplus. These conditions and factors make some consumers willing to pay a premium for certain goods.
Step-by-step explanation:
The statement "In the goods market, no buyer would be willing to pay more than the equilibrium price" is false because market conditions can lead to scenarios where buyers are willing to pay above the equilibrium price. One such scenario is when a product has a perceived uniqueness or a strong brand value that increases the consumer's willingness to pay a premium.
Additionally, situations of limited supply, such as scarcity or monopolistic control, can drive prices above the equilibrium. Consumers may also value immediate possession over a lower cost, such as during high demand periods, causing them to pay more for guaranteed availability.
Moreover, the concept of consumer surplus, which is the difference between what consumers are willing to pay and what they actually pay, illustrates that under certain circumstances, particularly for luxury or highly coveted items, buyers’ maximum willingness to pay may indeed surpass the equilibrium price. Factors like personal preference, urgency, and perceived value play a significant role in affecting a consumer's willingness to pay.