What is willingness to pay? How does this relate to the concept of demand?


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What is willingness to pay? How does this relate to the concept of demand?


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1. What is willingness to pay? How does this relate to the concept of demand?

2. When determining the cost of manufacturing a product, what considerations are included in the cost? Provide an example of a product and explain each consideration in relation to your example.

3. When purchasing construction materials for a home renovation, what factors should a homeowner consider? Provide an example of a green building product