A
A lot of Money in that business
Answer: Option C
Explanation: As per the subject matter of behavioral economics, endowment effect refers top the phenomenon under which it is assumed that a rational individual will retain a commodity he or she already owns rather than acquiring the same commodity if he do not own it.
Hence from the above we can conclude that correct option is C as it states that one will not sell a painting even though at a price that the holder would pay to purchase it himself.
Answer:
$582,100
Explanation:
Cost of land $570,000
Less;Salvage parts sold ($23,000)
Demolition of old building $33,000
Land preparation and leveling $2,100
Total cost of land $582,100
The ground breaking ceremony expenses are not capital expenditures therefore ignored in above working.
