f. Use the additive rule of probability to calculate the probability that either Thomas or Abraham or both receive a painting. Show your calculation. 9. Suppose that Thomas arrives rst and buys a painting. What is the probability that Abraham arrives second and so both paintings go to the people who value them the most? Use the conditional probability formula to solve this problem. Show your calculation. h. 15 $?5 a market clearing price. If not, then what is a market clearing price? (Le. what price would cause the quantity demanded to equal the quantity supplied?) If the seller asks tne market clearing price, then who would receive the two paintings? Explain your answer. 1. The table to the right shows George's, Thomas's, Theodore's, and Buyer Value Abraham's willingness to pay for a painting of a mountain in South George $100 Dakota. On the supply side, the seller has two paintings to sell. Theodore $150 The paintings are sold on a first-come-first-served basis and each Thomas $250 of the four people has an equal chance of being the first or second Abraham $300 to arrive. Suppose that the two pictures are being sold for $75 each