Final answer:
The statement is false because in a market, some buyers may be willing to pay more than the equilibrium price.
Step-by-step explanation:
The statement “In the goods market, no buyer would be willing to pay more than the equilibrium price” is false.
In a market, the equilibrium price is determined by the intersection of the demand and supply curves. At this price, the quantity demanded is equal to the quantity supplied. However, it is possible for some buyers to have a higher willingness to pay and be willing to pay more than the equilibrium price.
For example, in a competitive market for concert tickets, the equilibrium price may be $50. However, there may be fans who are willing to pay more than $50 to attend the concert, such as die-hard fans or individuals with higher incomes. They might be willing to pay $75 or even $100 for a ticket. These buyers are willing to pay more than the equilibrium price because of their preferences or financial capability.