Suppose a consumer values a certain 19-inch television set at$150, and the seller is unwilling...

Suppose a consumer values a certain 19-inch television set at $150, and the seller is unwilling to sell the set for

less than $200. What price will lead to an efficient transaction between the potential buyer and seller?

A) a price of $0

B) any price greater than $0 and less than $150

C) any price greater than or equal to $150 and less than or equal to $200

D) any price greater than $200

E) No price will lead to an efficient transaction

Solutions

Expert Solution

The correct option is E) No price will lead to an efficient transaction

Since the buyer is not willing to pay more than $ 150 and the seller is not willing to accept less than $ 200 so no transaction will be made

Rahul Sunny answered 1 year ago

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