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Hi, the correct answer is true, true, false but I am not getting it, please draw any necessary diagrams, definitions, thank you. Q5. Roberta is

Hi, the correct answer is true, true, false but I am not getting it, please draw any necessary diagrams, definitions, thank you.

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Q5. Roberta is a poor student, but she has some income and some assets. Suppose you ask Roberta how much she's willing to pay for a particular laptop (which she regards as a normal good), and she tells you truthfully - this price is her willingness to pay (WTP). Now suppose Roberta wins the new laptop in a contest which she entered for free, and she tells you truthfully at what price she'd be willing to sell it - this price is her willingness to accept (WTA). What can we say about the relative values of WTP and WTA? i. If Roberta is rational, WTA > WTP ii. |WTP - WTA| is larger the more expensive is the laptop iii. (WTP - WTA| is larger the higher is Roberta's income

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