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1 vote
A negative bargaining range occurs when the buyer's resistance point is above the seller's. FALSE

1 Answer

1 vote

Final answer:

Buyers can be willing to pay more than the equilibrium price in the goods market.

Step-by-step explanation:

This statement is false because in the goods market, buyers are willing to pay higher prices than the equilibrium price under certain conditions.

For example, buyers may be willing to pay more than the equilibrium price for goods that are in high demand or have limited supply. In such cases, buyers may engage in bidding wars to secure the goods, driving up the price above the equilibrium level.

Additionally, buyers may also be willing to pay more than the equilibrium price if they place a high value on the goods or if they have a strong preference for a particular brand or quality.

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User SNce
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