3/ Consider the following information on several houses that were recently sold in an openmarket. All houses are the same except for the size and location.PropertyPropertyBASize (sq. ft.)Distance to nearest park (km.)15001.517502.0Property PropertyCD20000.520001.0710,000SubjectPropertySelling price565,000645,000705,000If the market is in equilibrium, estimate the market value of the Subject Property.18001.75???

Equilibrium is the state where market forces of demand and supply equates to have an equilibrium…

3/ Consider the following information on several houses that were recently sold in an open market. All houses are the same except for the size and location. Size (sq. ft.) Distance to nearest park (km.) Property Property Property Property Subject A B C D Property 2000 0.5 2000 1.0 710,000 1500 1750 2.0 Selling price 1.5 565,000 645,000 705,000 If the market is in equilibrium, estimate the market value of the Subject Property. 1800 1.75 ???

3/ Consider the following information on several houses that were recently sold in an open market. All houses are the same except for the size and location. Size (sq. ft.) Distance to nearest park (km.) Property Property Property Property Subject A B C D Property 2000 0.5 2000 1.0 710,000 1500 1750 2.0 Selling price 1.5 565,000 645,000 705,000 If the market is in equilibrium, estimate the market value of the Subject Property. 1800 1.75 ???

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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