Suppose Chris and Laura attend a charity benefit and participate in a silent auction. Each has in mind a maximum amount that he or she will bid for an oil painting by a locally famous artist. This maximum is called of:. a. deadweight loss. b. willingness to pay c. consumer surplus. d. producer surplus.

b. willingness to pay

Explanation:

Willingness to pay is the term used for the economic value of the good to a person willing to buy under some given conditions. In this situation there is a silent auction which requires willingness of participant to pay the painting under auction. There is no competition involved and in absence of any comparison of prices  b. willingness to pay is appropriate term to be used for this.

​participate in networking opportunities that allow you to get to know potential clients, other entrepreneurs, influential people in your community, etc. focus on doing everything you can to cultivate posting word of mouth advertisin

answercombination of ability and experience of the partners;