The city council of Fayetteville is in the process of approving the construction of a new 200,000-ft convention center. Two sites have been proposed, and both require exercising the "eminent domain" law to acquire the property. The following about proposed (contiguous) properties in both sites together with the acquisition cost. table provides data

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The city council of Fayetteville is in the process of approving the construction of a new
200,000-ft convention center. Two sites have been proposed, and both require exercising
the "eminent domain" law to acquire the property. The following table provides data
about proposed (contiguous) properties in both sites together with the acquisition cost.
Property
12345
Area (1000 ft²)
20
50
Site 1
50
30
60
Cost (1000 $)
1,000
2,100
2,350
1,850
2,950
Site 2
Area (1000 ft²)
80
60
50
70
Cost (1000 $)
2,800
1,900
2,800
2,500
Partial acquisition of property is allowed. At least 75% of property 4 must be acquired
if site 1 is selected, and at least 50% of property 3 must be acquired if site 2 is
selected.
Transcribed Image Text:The city council of Fayetteville is in the process of approving the construction of a new 200,000-ft convention center. Two sites have been proposed, and both require exercising the "eminent domain" law to acquire the property. The following table provides data about proposed (contiguous) properties in both sites together with the acquisition cost. Property 12345 Area (1000 ft²) 20 50 Site 1 50 30 60 Cost (1000 $) 1,000 2,100 2,350 1,850 2,950 Site 2 Area (1000 ft²) 80 60 50 70 Cost (1000 $) 2,800 1,900 2,800 2,500 Partial acquisition of property is allowed. At least 75% of property 4 must be acquired if site 1 is selected, and at least 50% of property 3 must be acquired if site 2 is selected.
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