13. How prices allocate resources Suppose that there are three beachfront parcels of land available for sale in Huntington 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 $5?5,000. The following table states eac person's willingness and ability to purchase a parcel. Willingness and Ability to Purchase Person (Dollars) Alex 600,000 Becky 550,000 Clancy 520,000 Eileen 5 10,000 Raphael ?'50,000 Susan 560,000 Which of these people will buy one of the three beachfront parcels? Gmecka that apply. I: Alex I: Beckv Clancy Eileen Raphael l_ll_ll_ll_l Susan Assume 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 of those beachfront parcels is sold, another essentially identical beachfront parcel becomes available for sale at a minimum price of $535,000. This fourth parcel v be sold, because v will purchase it from the seller for at least the minimum price