Answer
willingness to pay is less than the willingness to accept
Work Step by Step
If the consumer is not willing to pay what the supplier is willing to accept, the transaction will not occur.
Microeconomics: Principles, Applications, and Tools (8th Edition)
by O'Sullivan, Arthur; Sheffrin, Steven; Perez, Stephen
Published by
Prentice Hall
ISBN 10:
0-13294-886-9
ISBN 13:
978-0-13294-886-9
Chapter 6 - Market Efficiency and Government Intervention - Exercises - 6.2 Market Equilibrium and Efficiency - Page 147: 2.6
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