A seller is willing to sell a product only if the seller receives a price that is at least as great as
A)the seller's producer surplus.
B)the sellers's cost of production.
C)the seller's profit.
D)the average willingness to pay of buyers of the product.

Question

Quizplus · Accepted Answer

The seller's minimum acceptable price should at least cover the cost of production, otherwise, selling the product would result in a loss for the seller. Options A and C are related to the seller's revenue and profit, but they do not necessarily dictate the minimum selling price. Option D is not relevant as the average willingness to pay of buyers does not necessarily equate to the seller's cost of production or desired profit.

A Seller Is Willing to Sell a Product Only If