Question

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 $560,000. This fourth parcel__1__ be sold because __2__ will purchase it from the seller for at least the minimum price.1) A. WillB. Will not2) A. No oneB. Ravi ($690,000)C. Maria ($720,000)D. Simone ($680,000)

Answer 1

The correct answer is; This fourth parcel will not be sold because all buyers will purchase it from the seller for at least the minimum price.

Step-by-step explanation:

All buyers are willing to buy although all are willing to pay more than the minimum price. the seller might need to increase price