Mission Bay Development Corporation Is Developing an Exclusive 25-Acre Parcel

question 15

Essay

Mission Bay Development Corporation is developing an exclusive 25-acre parcel of property.It has received bids from five builders to purchase construction lots.Because of the different nature of the builders,they desire different sized lots.The data are as follows:
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How should Mission Bay sell the land to maximize total sales revenue?

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Definitions:

Id

In Freudian psychoanalytic theory, the part of the mind in which innate instinctive impulses and primary processes are manifest.

Conscience

An inner feeling or voice viewed as acting as a guide to the rightness or wrongness of one's behavior.

Rational Decisions

Choices made based on logical reasoning, where all alternatives are considered and the most optimal outcome is selected.

Defense Mechanism

Psychological strategies unconsciously used to protect oneself from anxiety arising from unacceptable thoughts or feelings.