A seller's willingness to sell:
A) is the maximum price that a seller is willing to accept in exchange for a good or service.
B) is the minimum price that a seller is willing to accept in exchange for a good or service.
C) is his or her reserved minimum bid-price.
D) must always equal the buyer's willingness to buy.

Question

Quizplus · Accepted Answer

A seller's willingness to sell is the minimum price that he or she is willing to accept in exchange for a good or service. This is different from the maximum price that a seller may be willing to accept, which is known as the reservation price or reserve price. It is also not necessary for a seller's willingness to sell to always equal the buyer's willingness to buy.

A Seller's Willingness to Sell