<span>If the comp sold for $199,000 but includes a $3000 porch and the subject has no porch, then we subtract the value of the porch to yield a base for the comparable of $196,000. Then, since the comparable has no pool or chimney, we add these values - $8,000 and $2,000, respectively - to that base value to yield an adjusted value of $196,000 + $8,000 + $2,000 = $206,000.</span>
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Answer:
Many factors determine the demand elasticity for a product, including price levels, the type of product or service, income levels, and the availability of any potential substitutes. High-priced products often are highly elastic because, if prices fall, consumers are likely to buy at a lower price.
Explanation:
Answer:
Explanation:
%increase is given as = increase/ original prices ×100
Increase = new cost - original cost
The original average cost is $16000,
And the new average cost is $28,000
Then,
Increase = 28000-16000
Increase =$12,000
Then,
%increase=increase/original cost ×100
%increase = 12000/16000 ×100
%increase=75%
The rate of increase of the automobile cost is 75%
