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16. How prices allocate resources 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 $570,000. The following table states each persons willingness and ability to purchase a parcel Hubert Kate Manuel Poornima Shen Valerie Willingness and Ability to Purchase (Dollars) 700,000 630,000 590,000 550,000 510,000 500,000 Which of these people will buy one of the three beachfront parcels? Check all that apply Hubert Kate Manuel Poornima Shen Valerie

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