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. Willingness and Ability to Purchase Person (Dollars) Amy 660,000 Carlos 620,000 Deborah 570,000 Felix 540,000 Janet 530,000 Van 750,000
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. Willingness and Ability to Purchase Person (Dollars) Amy 660,000 Carlos 620,000 Deborah 570,000 Felix 540,000 Janet 530,000 Van 750,000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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