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Suppose that there are three plots of mountain resort land available for sale in Niseko and six potential buyers, each interested in purchasing one plot. Assume that all of the plots are basically indistinguishable and that the minimum selling price of each is [tex][tex]$\$[/tex] 570,000$[/tex]. The following table lists each potential buyer's willingness and ability to purchase a plot of land.

\begin{tabular}{|c|c|}
\hline Person & \begin{tabular}{l}
Willingness and Ability to Purchase \\
(Dollars)
\end{tabular} \\
\hline Alex & 590,000 \\
\hline Becky & 550,000 \\
\hline Clancy & 510,000 \\
\hline Eileen & 500,000 \\
\hline Raphael & 700,000 \\
\hline Susan & 630,000 \\
\hline
\end{tabular}

Which of these people will purchase one of the three mountain resort plots? Check all that apply.

- Alex
- Becky
- Clancy
- Eileen
- Raphael
- Susan



Answer :

GinnyAnswer
To determine which of the potential buyers will purchase one of the three mountain resort plots based on the given table and the minimum selling price of [tex]$570,000, we need to look at each buyer's willingness and ability to spend. Given data: - Minimum selling price: $[/tex]570,000

Let's analyze the willingness and ability of each prospective buyer:
- Alex is willing to spend [tex]$590,000 (which is equal to or more than the minimum price) - Becky is willing to spend $[/tex]550,000 (which is less than the minimum price)
- Clancy is willing to spend [tex]$510,000 (which is less than the minimum price) - Eileen is willing to spend $[/tex]500,000 (which is less than the minimum price)
- Raphael is willing to spend [tex]$700,000 (which is equal to or more than the minimum price) - Susan is willing to spend $[/tex]630,000 (which is equal to or more than the minimum price)

Based on this evaluation, the buyers who can meet or exceed the minimum price of $570,000 are:
- Alex
- Raphael
- Susan

Therefore, the people who will purchase one of the plots are Alex, Raphael, and Susan.

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