Which of these people will purchase one of the three mountain resort plots? Check all that apply.ClancyEileenHubertKateManuelPoornimaNow, assume that the three mountain plots have been sold to the people that you indicated in the previous section. Suppose that a few weeks afterthe last of those mountain plots is sold, another basically identical mountain plot goes on the market for sale at a minimum price of $732,500. Thisfourth plotbe sold, becausewill purchase it from the seller for at least the minimum price. 18. How prices allocate resourcesSuppose that there are three plots of mountain resort land available for sale in Interlaken and six potential buyers, each interested in purchasing oneplot. Assume that all of the plots are basically indistinguishable and that the minimum selling price of each is $745,000. The following table lists eachpotential buyer's willingness and ability to purchase a plot of land.PersonClancyEileenHubertKateManuelPoornimaWillingness and Ability to Purchase(Dollars)900,000810,000770,000720,000690,000680,000

The maximum sum of money or other resources that a person is ready to trade with in exchange for a…

Which of these people will purchase one of the three mountain resort plots? Check all that apply. Clancy Eileen Hubert Kate Manuel Poornima 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 $732,500. This fourth plot will purchase it from the seller for at least the minimum price. be sold, because

Which of these people will purchase one of the three mountain resort plots? Check all that apply. Clancy Eileen Hubert Kate Manuel Poornima 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 $732,500. This fourth plot will purchase it from the seller for at least the minimum price. be sold, because

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter4: Utility Maximization And Choice

Section: Chapter Questions

Problem 4.12P

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