Economics QUESTION 12 Which of the following statements regarding "value" is FALSE? O 1. The intended use determines which definition of value is applicable to a particular assignment. O 2. Fair value and market value both focus on willing buyers and sellers. O 3. Use value considers the property's value in alternative uses. O 4. Assessed value is established as a basis for levying property taxes.

Economics QUESTION 12 Which of the following statements regarding "value" is FALSE? O 1. The intended use determines which definition of value is applicable to a particular assignment. O 2. Fair value and market value both focus on willing buyers and sellers. O 3. Use value considers the property's value in alternative uses. O 4. Assessed value is established as a basis for levying property taxes.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter17: Capital And Time

Section: Chapter Questions

Problem 17.7P

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