16. How prices allocate resources Suppose that there are three beachfront parcels of land available for sale in Astoria and six people who would each like to purchase one parcet. Assume that the parcels are essentially identical and that the minimum selling price of each is $445,000. The following table states each person's Willingness and ability to purchase a parcel. Person Willingness and Ability to Purchase (Dollars) 470,000 Alex 420,000 Becky Clancy 390,000 Eile 380,000 Raphael 600,000 510,000 Susan Which of these people will buy one of the three beachfront parcels? Check all that apply. O Alex Becky Clancy Eileen Raphael Susan Assume that the three beachfront pacels 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 $432,500. This fourth be sold, because will purchase it from the seller for at least the minimum price. parcel Grade it Now Save & Continue Continue without saving