3 ms·
The consumer will pay at most the value that it provides them; however the producer will charge at least the cost to produce the item. If the former is less th
by caf 16y ago
The consumer will pay at most the value that it provides them; however the producer will charge at least the cost to produce the item.
If the former is less than the latter, obviously there is no sale. If the latter is less than the former, then the price will be somewhere in between these points - exactly where is the interesting thing.