Inferring Willingness to Pay from a Demand Curve
A market consists of 100 potential consumers for a specific product, arranged in descending order of their willingness to pay. The resulting market demand curve is a straight line. At a price of $50, the quantity demanded is 0. At a price of $0, the quantity demanded is 100. Based on this information, what is the willingness to pay of the 50th consumer in the market? Explain your reasoning.
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