Trade will take place: » MCQ Academy English

Managerial Economics

Trade will take place:

If the maximum that a consumer is willing and able to pay is less than the minimum price the producer is willing and able to accept for a good
If the maximum that a consumer is willing and able to pay is greater than the minimum price the producer is willing and able to accept for a good
Only if the maximum that a consumer is willing and able to pay is equal to the minimum price the producer is willing and able to accept for a good
None of the statements associated with this question are correct

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Trade will take place If the maximum that a consumer is willing and able to pay is greater than the minimum price the producer is willing and able to accept for a good .

Tags: Fundamentals of Managerial Economics

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