- Pls Help Me With This Econ Task Pls First Blank Will Or Will Not Second Blank Sam Teresa No One Neha 1 (16.9 KiB) Viewed 35 times
- Pls Help Me With This Econ Task Pls First Blank Will Or Will Not Second Blank Sam Teresa No One Neha 2 (6.71 KiB) Viewed 35 times
one, Neha)
16. How prices allocate resources Suppose that there are three beachfront parcels of land available for sale in Asilomar and six people who would each like to purchase one parcel. Assume that the parcels are essentially identical and that the minimum selling price of each is $400,000. The following table states each person's willingness and ability to purchase a parcel. Willingness and Ability to Purchase Person (Dollars) Gilberto 550,000 Juanita 480,000 Lorenzo 420,000 Neha 380,000 Sam 340,000 Teresa 330,000 Which of these people will buy one of the three beachfront parcels? Check all that apply. Gilberto Juanita Lorenzo Neha Sam Teresa
Assume that the three beachfront parcels are sold to the people that you indicated in the previous section. Suppose that a few days after the last of those beachfront parcels is sold, another essentially identical beachfront parcel becomes available for sale at a minimum price of $360,000. This fourth parcel be sold, because will purchase it from the seller for at least the minimum price.