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?
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It is becoming a global center for it, computer programming, and software.
Answer:
so correct option is B) $527
Explanation:
given data
cost = $28,000
offer APR = 4.9 % = 
= 0.0041
time = 60 months
finance the entire = $28,000
solution
we will apply here formula for calculate monthly payment that is
= 
...........1
here r is rate that is 0.0041 and t is time that is 60 put here value we get
= 
= 0.01883
so monthly payment is = 28000 × 0.01883
monthly payment is $527
so correct option is B) $527
The part of a market controlled by a certain company or product
Answer:
B) a decentralized structure.
Explanation:
In a decentralized organizational structure, many decision making responsibilities are delegated from upper management to middle and lower management. Most normal day-to-day decisions are made by entry level employees and lower management. The company's organizational structure is not rigid and most decisions can be made rather quickly.
