For a good to be exchanged, what must be true about the buyer and seller's pricing?

For a good to be exchanged successfully between a buyer and a seller, the buyer's maximum willingness-to-pay must be greater than or equal to the seller's minimum willingness-to-accept. This principle is fundamental to the concept of market transactions, as it establishes the conditions under which both parties find value in the exchange.

In practical terms, if a buyer is willing to pay more than or equal to what the seller is willing to accept, this creates a situation where an exchange can occur. The buyer perceives that they are receiving value equal to or greater than the price they are paying, while the seller is agreeable to parting with the good at a price that satisfies their minimum requirement.

Other statements present conditions that would hinder an exchange. For instance, if the buyer's willingness-to-pay is less than the seller's minimum acceptable price, the transaction cannot occur because the buyer does not value the good highly enough compared to the seller's price. Furthermore, while negotiation can occur, it is not a prerequisite for all exchanges, nor does it guarantee that an agreement will be reached. The price being set above the market price would typically deter buyers, further complicating the ability to reach an agreement. In summary, for a successful exchange to take place, the