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Ivan Has Inherited His Grandmother's 1963 Chevrolet Corvette, Which He

Question 29

Multiple Choice

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 exchange _____ between Ivan and Samantha because _____ positive economic surplus from the transaction.


A) occurs; both Ivan and Samantha receive
B) occurs; only Ivan receives
C) does not occur; only Samantha receives
D) does not occur; neither Ivan nor Samantha receives

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