Ivan has inherited his grandmother's 1963 Chevrolet Corvette, which he values at $60,000. Samantha is interested in buying such a car and is willing to pay up to $55,000. Ivan hears Samantha is looking for this particular car and offers to sell it to her for $70,000. 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 Samantha receives
C) does not occur; only Ivan receives
D) does not occur; neither Ivan nor Samantha receives
Correct Answer:
Verified
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