Suppose 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 $595,000. The following table lists eachpotential buyer's willingness and ability to purchase a plot of land.PersonWillingness and Ability to Purchase(Dollars)Amy660,000Carlos620,000Deborah570,000Felix540,000Janet530,000Van750,000Which of these people will purchase one of the three mountain resort plots? Check all that apply.☐☐☐☐☐☐AmyCarlosDeborahFelixJanetVanNow, 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 $582,500. Thisfourth plotwill purchase it from the seller for at least the minimum price.be sold, because

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

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

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter17: Capital And Time

Section: Chapter Questions

Problem 17.13P

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