Each Seller of a Product Is Willing to Sell as Long

question 67

True/False

Each seller of a product is willing to sell as long as the price he or she can receive is greater than the opportunity cost of producing the product.

---

Definitions:

Enzyme

Biological catalysts which accelerate chemical reactions in living organisms by lowering the activation energy.

Racemic Acid

A mixture of equal amounts of two enantiomers of an acid, making it optically inactive.

Strecker Synthesis

A chemical reaction for synthesizing amino acids by reacting an aldehyde with ammonium chloride and potassium cyanide, followed by hydrolysis.

Racemic Alanine

A mixture of equal parts of the D- and L-enantiomers of alanine, making it optically inactive due to the internal compensation of optical activity.