How prices allocate resources suppose that there

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How prices allocate resources Suppose that there are three plots of mountain resort land available for sale in Park City and six potential buyers, each interested in purchasing one plot. Assume that all of the plots are basically indistinguishable and that the minimum selling price of each is $595,000. The following table lists each potential buyer's willingness and ability to purchase a plot of land. Person Willingness and Ability to Purchase (Dollars) Alex 750,000 Becky 660,000 Clancy 620,000 Eileen 570,000 Hubert 540,000 Kate 530,000 Which of these people will purchase one of the three mountain resort plots? Check all that apply. Alex Becky Clancy Eileen Hubert Kate Now, assume that the three mountain plots have been sold to the people that you indicated in the previous section. Suppose that a few weeks after the last of those mountain plots is sold, another basically identical mountain plot goes on the market for sale at a minimum price of $582,500. This fourth plot be sold, because will purchase it from the seller for at least the minimum price.

Reference no: EM133552729

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