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Assume that the average price for a 2,000-square-foot house in the city is $360,000 and the average rent for a 2,000-square-foot apartment in the city is $1,300 per month. Also assume that the average price or a 2,000-square-foot house in the suburbs is $220,000, the average price for a 2,000-square-foot house in the county is $350,000, and the average price for a 3,000-square-foot house in the suburbs is 470,000. Using comparative statics and the information above, what i the best estimate of the effect of living in the city (relative to living in the suburbs) on home prices? living in the city changes home prices by $. (Round your response to two decimal places.)

Assume that the average price for a 2,000-square-foot house in the city is $360,000 and the average rent for a 2,000-square-foot apartment in the city is $1,300 per month. Also assume that the average price or a 2,000-square-foot house in the suburbs is $220,000, the average price for a 2,000-square-foot house in the county is $350,000, and the average price for a 3,000-square-foot house in the suburbs is 470,000. Using comparative statics and the information above, what i the best estimate of the effect of living in the city (relative to living in the suburbs) on home prices? living in the city changes home prices by $. (Round your response to two decimal places.)

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Assume that the average price for a 2,000-square-foot house in the city is $360,000 and the average rent for a 2,000-square-foot apartment in the city is $1,300 per month. Also assume that the average price for a 2,000-square-foot house in the suburbs is $220,000, the average price for a 2,000-square-foot house in the county is $350,000, and the average price for a 3,000-square-foot house in the suburbs is $470,000. Using comparative statics and the information above, what is the best estimate of the effect of living in the city (relative to living in the suburbs) on home prices? Living in the city changes home prices by $. (Round your response to two decimal places.)
Transcribed Image Text:Assume that the average price for a 2,000-square-foot house in the city is $360,000 and the average rent for a 2,000-square-foot apartment in the city is $1,300 per month. Also assume that the average price for a 2,000-square-foot house in the suburbs is $220,000, the average price for a 2,000-square-foot house in the county is $350,000, and the average price for a 3,000-square-foot house in the suburbs is $470,000. Using comparative statics and the information above, what is the best estimate of the effect of living in the city (relative to living in the suburbs) on home prices? Living in the city changes home prices by $. (Round your response to two decimal places.)
Suppose your total benefits of renting x DVD's next month is: -²2² +14x+50 The cost of renting a DVD is $2, and so the total cost of renting x DVD's is $2x. Calculate your net benefit from watching 1, 2...8 DVDs. Complete column (2). (Enter your responses as integers.) (1) DVDs Rented 0 1 N345678 2 (2) Total Net Benefit
Transcribed Image Text:Suppose your total benefits of renting x DVD's next month is: -²2² +14x+50 The cost of renting a DVD is $2, and so the total cost of renting x DVD's is $2x. Calculate your net benefit from watching 1, 2...8 DVDs. Complete column (2). (Enter your responses as integers.) (1) DVDs Rented 0 1 N345678 2 (2) Total Net Benefit
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