The following table shows a housing index that can be used to compare housing prices in different cities. Suppose you see a house valued at $280,000 in City E. Findthe price of a comparable house in City F, City B, and City A.If you know the price of a particular home in your town, you can use the index to find the price of a comparable house in another town with the formula below.index (other town)index (your town)priceprice(other town) (your town)=XA comparable house in City F would cost about $.(Round to the nearest dollar.)A comparable house in City B would cost about $.(Round to the nearest dollar.)***A comparable house in City A would cost about $(Round to the nearest dollar.)City Index City IndexCity A 58 City F 49City B 164 City G 200City C 100 City H 50City D 367 City J 92City E 195 City K 482

Setting a price is a way to determine how much a manufacturer will get in return for goods and…

you know the price of a particular home in your town, you can use the index to find the price of a comparable house in another town with the formula below. price price index (other town) index (your town) (other town) (your town) A comparable house in City F would cost about $ Round to the nearest dollar.) A comparable house in City B would cost about $ Round to the nearest dollar.) CELL A comparable house in City A would cost about $ Round to the nearest dollar.) City A 58 City B 164 City F City G 200 City C 100 City H 50 City D 367 City J 92 City E 195 City K 482

you know the price of a particular home in your town, you can use the index to find the price of a comparable house in another town with the formula below. price price index (other town) index (your town) (other town) (your town) A comparable house in City F would cost about $ Round to the nearest dollar.) A comparable house in City B would cost about $ Round to the nearest dollar.) CELL A comparable house in City A would cost about $ Round to the nearest dollar.) City A 58 City B 164 City F City G 200 City C 100 City H 50 City D 367 City J 92 City E 195 City K 482

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 17P

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