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Angela and Theresa visit a sporting goods store to buy a new set of golf clubs. Angela is willing to pay up to $750 for

Angela and Theresa visit a sporting goods store to buy a new set of golf clubs. Angela is willing to pay up to $750 for the golf clubs, Theresa is willing to pay up to $850. The price is $575, unfortunately, there is only one set of golf clubs available at the moment! The efficient allocation of resources is when

Theresa buys the golf clubs
Neither Theresa nor Angela buys the golf clubs
Angela buys the golf clubs
No efficient allocation is possible at P = $575 because at this price quantity demanded is greater than quantity supplied.
Either Theresa or Angela buys the golf clubs

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