# 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 minimum selling price of each is \$570,000. The following table states each person'swillingness and ability to purchase a parcel.Willingness and Ability to Purchase(Dollars)PersonCarlos700,000Deborah630,000Felix590,000Janet550,000510,000LarryMegan500,000Which of these people will buy one of the three beachfront parcels? Check all that apply.CarlosDeborahFelixJanetLarryMeganAssume that the three beachfront parcels are sold to the people that you indicated in the previous section. Suppose that a few days after the last ofthose beachfront parcels is sold, another essentially identical beachfront parcel becomes available for sale at a minimum price of \$560,000. This fourthparcelbe sold, becausewill purchase it from the seller for at least the minimum price.

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Step 1

Given:

Minimum selling price = \$570000

Step 2

(a)        Since the minimum selling price is \$570000. Thus, all the given persons whose willingness to ...

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