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Suppose that there are three beachfront parcels of land available for sale in Astoria and six people who would each like to purchase one parcel.

Suppose that there are three beachfront parcels of land available for sale in Astoria 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 $595,000. The following table states each person's willingness and ability to purchase a parcel.

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