Suppose that there are three beachfront parcels of land available for sale in Astoria, 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 $575,000. The following table states each person's willingness and ability to purchase a parcel. Willingness and Ability to Purchase (Dollars) Brian 750,000 Crystal 660,000 Edison 600,000 Hilary 550,000 Kevin $20,000 Maria 510,000 Which of these people will buy one of the three beachfront parcels? Check all that apply.
Suppose that there are three beachfront parcels of land available for sale in Astoria, 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 $575,000. The following table states each person's willingness and ability to purchase a parcel. Willingness and Ability to Purchase (Dollars) Brian 750,000 Crystal 660,000 Edison 600,000 Hilary 550,000 Kevin $20,000 Maria 510,000 Which of these people will buy one of the three beachfront parcels? Check all that apply.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Suppose that there are three beachfront parcels of land available for sale in Astoria, 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 $575,000. The following table states each person's
willingness and ability to purchase a parcel.
Willingness and Ability to Purchase
(Dollars)
Brian
750,000
Crystal
660,000
Edison
600,000
Hilary
550,000
Kevin
$20,000
Maria
510,000
Which of these people will buy one of the three beachfront parcels? Check all that apply.
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