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the core principles of economics — end of chapter problem ivan has inherited his mother’s 1963 chevrolet corvette, which he values at $45,000. he decides that he might be willing to sell it, so he posts it on craigslist for $55,000. samantha is interested and willing to pay up to $72,000 for one.

Respuesta :

khuranashilpa76

Yes, Ivan and Samantha both voluntarily enter the trade because they both profit in their own ways. Ivan got more money than expected. This is a producer surplus for him. There is a consumer surplus because Samantha is paying less than she is willing to pay. Therefore, both benefit from the transaction.

Producer surplus to Ivan = Amount received - willing to sell amount = 55000-45000 = 10000

Consumer surplus to Samantha = willing to pay - Actual amount paid = 72000 - 55000 = 17000

Economic surplus = Consumer + Producer surplus = 10000+17000 = 27000$.

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Learn more about Chevrolet Corvette here:-https://brainly.com/question/15463688

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