Homework Help: economics

Posted by peter on Friday, February 10, 2012 at 3:18pm.

Suppose that there are three beachfront parcels of land available for sale in Asilomar 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 $600,000. The table below reflects the willingness and ability of each of the six people to purchase a parcel.

Dakota $900,000
Mark $800,000
Lucy $700,000
Axelle $500,000
Kirby $370,000
Briana $300,000
Which of these people will buy one of the three beachfront parcels? Check all that apply.

__ Briana
__ Dakota
__ Kirby
__ Axelle
__ Mark
__ Lucy

Assume that the three beachfront parcels are sold to the people that you indicated above. 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 $525,000. This fourth parcel _______ be sold, as ________ will purchase it from the seller for at least the minimum price.

economics - Bre, Friday, September 14, 2012 at 4:36pm
Dakota, Mark, and Lucy
will not.....no one

Answer this Question

Related Questions

economics - Suppose that there are three beachfront parcels of land available ...
macroeconomics - Suppose that there are three beachfront parcels of land ...
Evironmental science - Over a billion people in developing nations live in ...
environmental science - A local reporter has called you for help with an article...
Economics - A tract of land is found to contain a plant from which drug ...
math - i have no clue how to do this problem. any help would be appreciated...
accounting - Jan.1 Beginning Inventory..300 units @ $3.00 Mar.5 Purchase...
Economics - The marginal revenue product (MRP) of land declines as more land is ...
statistics math - The unemployment rate is 5.8% (Bureau of Labor Statistics, ...
maths - determine the cost ratio (Retail Method) for Twilight Games and Comix ...

For Further Reading

First Name:
School Subject:
Answer: