For exchange to be voluntary, price must be more than the
A) marginal benefit of the seller.
B) opportunity cost of the buyer.
C) opportunity cost of the seller.
D) maximum amount the buyer is willing to pay.
E) marginal benefit of the buyer.

Question

Quizplus · Accepted Answer

For an exchange to be voluntary, the price must be more than the opportunity cost of the seller. This ensures that the seller benefits from the transaction, as they receive more than what they would have gained from the next best alternative use of the resource or product they are selling.

For Exchange to Be Voluntary, Price Must Be More Than