16. How prices allocate resources Suppose that there are three plots of mountain resort land available for sale in Nisekoiand six potential buyers, each Interested In purchasing one plot. Assume that all of the plots are basically indistinguishable and that the minimum selling price of each is $400,000. The following table lists each potential buyer's willingness and ability to purchase a plot of land. Willingness and Ability to Purchase Person (Dollars] Bob 420,000 Cho 380,000 Eric 340,000 Ginny 330,000 Sean 550,000 Yvette 480,000 Which of these people will purchase one of the three mountain resort plots? Check all that apply. Bob Cho Eric Ginny Sean Yvette 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 $360,0oct This fourth plot be sold, because will purchase it from the seller for at least the minimum price