DEMAND PRICE: The maximum price that buyers would be willing and able to pay for a given quantity of a good. The emphasis here is on maximum. As a general rule buyers have an upper limit to the price that they would be willing to pay for a good. As an upper limit, they would gladly go lower. See also | demand | price | quantity demanded | demand space | demand curve | law of demand | free good | scarcity | demand determinants |
