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pashok25 [27]
2 years ago
5

The economic principle of ______ says that when there are two houses in the same neighborhood with the same size, appeal, and ut

ility, the lower-priced one will tend to sell first.
Business
1 answer:
Rina8888 [55]2 years ago
4 0

The economic principle of substitution says that when there are two houses in the same neighborhood with the same size, appeal, and utility, the lower-priced one will tend to sell first.

<h3>The economic principle of substitution</h3>
  • According to the principle of substitution, the cost of purchasing a substitute that is just as desired tends to establish the upper limit of value, assuming no inopportune delays.
  • A shrewd investor would not spend more on an asset that generates income than it would cost to construct or buy an asset of a similar nature.
  • According to this theory, the cost of acquiring a comparable substitute property with the same use, design, and revenue determine the maximum value of a property in most cases.
  • For instance, why would somebody pay $1,000,000 for a home when they could pay $750,000 for a different but as appealing home in the same neighborhood?

To learn more about the economic principle of substitution refer to:

brainly.com/question/9659517

#SPJ4

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A semiprofessional baseball team near your town plays two home games each month at the local baseball park. The team splits the
GarryVolchara [31]

Answer:

The team earns $405 in revenue for each game and $2430 revenue each season. With total costs of $3300 each season, the team finishes the season with $ -870 of profit

Explanation:

TEAM EARNS $ 10 FOR EACH TICKET AND 30 PEOPLE ATTEND A GAME AND SPEND $7 ON CONCESSION STAND BUT TEAM RECEIVE ONLY $ 3.5 OUT OF THIS SO

PER CUSTOMER REVENUE OF TEAM= $13.5

TOTAL REVENUE PER GAME = 13.5 * 30= $405

FOR A SEASON OF 6 GAMES, TOTAL REVENUE= 405* 6=$2430

PROFIT = REVENUE- COST= 2430- 3300 = -870 $

THAT MEANS LOSS OF 870 $

The team earns $405 in revenue for each game and $2430 revenue each season. With total costs of $..3300...... each season, the team finishes the season with $ -870 of profit or loss of $870

8 0
3 years ago
Draw five sector of macroeconomic model​
solong [7]

Answer:

Here's my Macroeconomic model.

Explanation:

Thus, the five-sector model includes (1) households, (2) firms, (3) government, (4) the rest of the world, and (5) the financial sector. The financial sector includes banks and non-bank intermediaries that engage in borrowing (savings from households) and lending (investments in firms).

8 0
3 years ago
Kelly’s Jewelry has the following transactions during the year: total jewelry sales = $640,000; sales discounts = $14,500; sales
pochemuha

Answer:

$559,020

Explanation:

The computation of net sales is shown below:-

Total sales = $640,000

Sales discount = $14,500 + $1,450

= $15,950

Sales return = $39,000 + $4,680

= $43,680

Sales allowance = $19,000 + $2,530

= $21,350

So,

Net sales = Total sales - Sales discount - Sales return - Sales allowance

= $640,000 - $15,950 - $43,680 - $21,350

= $559,020

Therefore for computing the net sales we simply applied the above formula.

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A machine with a cost of $142,000 and accumulated depreciation of $97,000 is sold for $56,000 cash. The amount that should be re
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A machine would cost $142,000 and the depreciation of $98,000
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