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juan mcdonald is willing to pay $600 for a new ipad. apple (the producer of ipads) is selling a new ipad for $700. it costs apple $400 to produce this ipad. a voluntary economic transaction between juan and apple occur because would be better off due to the transaction.
juan mcdonald is willing to pay $600 for a new ipad. apple (the producer of ipads) is selling a new ipad for $700. it costs apple $400 to produce this ipad. a voluntary economic transaction between juan and apple occur because would be better off due to the transaction.
Yes, Juan gains from the iPad's decreased pricing since he is willing to spend $600 for it rather than the $700 asking price. However, Apple alsoprofitsfrom the deal as they can sell the iPad for $600, which is more than their $400 cost of manufacture.What is voluntary economic transaction?An exchange of commodities, services, or resources between two parties that is voluntary in nature involves both parties' voluntary consent to participate. Both sides agree that they will profit from the trade, and neither is required to participate, making the exchange voluntary. Marketeconomiesare built on the tenets of supply and demand, and this kind of transaction is their cornerstone.Resource allocation is made more effective and both parties profit from the trade whentransactionsare voluntary. They may also promote economic expansion and open up fresh options for both consumers and companies.To learn more abouteconomy, visitbrainly.com/question/30415345#SPJ4...