CENGAGE | MINDTAP Homework: Prices: Free, Controlled, and Relative (Ch 04) Back to Assignment Attempts 0.5 Keep the Highest 0.5 / 2 1. 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 $400,000. The following table states each person's willingness and ability to purchase a parcel. Willingness and Ability to Purchase (Dollars) Antonio 550,000 Caroline 480,000 Dmitri 420,000 Frances 380,000 Jake 340,000 Latasha 330,000 Which of these people will buy one of the three beachfront parcels? Check all that apply. x O Antonio3350457&elSBN=9781337621410&id=1185959169&snapshotld=2410020& CENGAGE | MINDTAP Homework: Prices: Free, Controlled, and Relative (Ch 04) Which of these people will buy one of the three beachfront parcels? Check all that apply. x O Antonio x O Caroline x O Dmitri VO Frances O Jake O Latasha Points: 0.5/ 1 Explanation: Open Explanation v 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 $360,000. This fourth parcel X be sold because X will purchase it from the seller for at least the minimum price. Points: 0 / 1 Explanation: Open Explanation v Try Another Version Continue