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If Billy's willingness to pay for one snowboard is $250 and his willingness to pay for a second snowboard is $400, how many snowboards would he buy if the market price of snowboards is $500?

User Tobin
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1 Answer

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Answer:

Billy will be Zero (0) snowboard

Step-by-step explanation:

Billy won't be buying any snowboard because Billy's willingness to pay for one snowboard is $250 and for a second snowboard is $400, both of which are under the prevailing market price of $500. If Billy wants to get the snowboard, he must be willing to pay the market price if $500. With him not willing to pay that amount, Billy would not buy any snowboard.

User Garfonzo
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