6. John Staples accepts an offer for a job in Seattle that will start next May. His currentlease runs through August. John pays $800 per month for rent plus $200 in utilities. Ifthe utility bills are not transferable to a sublessor, what is the minimum amount Johnmust receive per month to sublet his apartment?a. $1b. $201c. $801d. $1,001

Answered: 6. John Staples accepts an offer for a…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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6. John Staples accepts an offer for a job in Seattle that will start next May. His current
lease runs through August. John pays $800 per month for rent plus $200 in utilities. If
the utility bills are not transferable to a sublessor, what is the minimum amount John
must receive per month to sublet his apartment?
a. $1
b. $201
c. $801
d. $1,001

Expert Solution

Step 1

Rent refers to a fee that a tenant pays to a landlord for the use of a property, such as an apartment, house, or commercial space. Utilities refer to the services that are necessary for the functioning of a building, such as electricity, gas, water, heating, and cooling. These services are usually provided by separate companies, and the cost of these services is usually separate from the cost of rent.

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