If the seller of a good gets less than his/her opportunity cost and the buyer pays more than his/her valuation of the good, economic value is created.

Question

Quizplus · Accepted Answer

Economic value is created when the seller receives more than his/her opportunity cost and the buyer pays less than his/her valuation of the good, leading to mutual benefit and an increase in overall welfare.

If the Seller of a Good Gets Less Than His/her