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
selling
price
of
each
is
$595,000.
The
following
table
states
each person's
willingness
and
ability
to
purchase
a
parcel.
Willingness
and
Ability
to
Purchase
(Dollars)
Andrew
540,000
Beth
530,000
Lorenzo
750,000
Neha
660,000
Sam
620,000
Teresa
570,000
Which
of
these
people
will
buy
one
of
the
three
beachfront
parcels?
Check
all
that
apply.
Andrew
Beth
Lorenzo
Neha
Sam
Teresa
Assume
that
the
three
beachfront
parcels
are
sold
to
the
people
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
price
of
$582,500.
This
fourth
parcel
W
be
sold
because
W
will
purchase
it
from
the
seller
for
that
price.
