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Emma Hopes to Get $5 Million for Her Land by Refusing

Question 18

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Emma hopes to get $5 million for her land by refusing to come to terms with the company that wants to buy the land to build apartments. The apartment builders have offered Emma $1.5 million for her land, which is what they paid other land owners in her area for similar-size parcels. Economists would refer to Emma as a ________.

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