Ivan has inherited his grandmother's 1963 Chevrolet Corvette, which he values at $60,000. Samantha is interested in buying the car and offers Ivan $55,000 for the car. Samantha is willing to pay up to $60,000 for such a car. A voluntary economic positive economic surplus from the transaction. between Ivan and Samantha because exchange occurs; only Ivan receives does not occur; neither Ivan nor Samantha receives occurs; both Ivan and Samantha receive does not occur; only Samantha receives

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Ivan has inherited his grandmother's 1963 Chevrolet Corvette, which he values at $60,000. Samantha is interested in buying
the car and offers Ivan $55,000 for the car. Samantha is willing to pay up to $60,000 for such a car. A voluntary economic
positive economic surplus from the transaction.
exchange
between Ivan and Samantha because
occurs; only Ivan receives
does not occur; neither Ivan nor Samantha receives
occurs, both Ivan and Samantha receive
does not occur; only Samantha receives
Transcribed Image Text:Ivan has inherited his grandmother's 1963 Chevrolet Corvette, which he values at $60,000. Samantha is interested in buying the car and offers Ivan $55,000 for the car. Samantha is willing to pay up to $60,000 for such a car. A voluntary economic positive economic surplus from the transaction. exchange between Ivan and Samantha because occurs; only Ivan receives does not occur; neither Ivan nor Samantha receives occurs, both Ivan and Samantha receive does not occur; only Samantha receives
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