A buyer values a house at $525,000 and a seller values the same house at $485,000. If sales tax is 8% and is lessed on the buyer, then, what would be the highest price that the buyer would be willing to pay?O$525,000Ob $523,800O$485.000d $456,111

It can be defined as the quantitive value of money which an individual or any entity is willing to…

A buyer values a house at $525,000 and a seller values the same house at $485,000. If sales tax is 8% and is levied on the buyer, then, what would be the highest price that the buyer would be willing to pay O$525.000 O$523,800 O$485,000 d$456,111

A buyer values a house at $525,000 and a seller values the same house at $485,000. If sales tax is 8% and is levied on the buyer, then, what would be the highest price that the buyer would be willing to pay O$525.000 O$523,800 O$485,000 d$456,111

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A buyer values a house at $525,000 and a seller values the same house at $485,000. If sales tax is 8% and is lessed on the buyer, then, what would be the highest price that the buyer would be willing to pay?
O$525,000
Ob $523,800
O$485.000
d $456,111

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