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REY [17]
3 years ago
12

Allen and Lewis are friends who each recently purchased real estate. Allen purchased a patio home in a small town an hour from t

he city, while Lewis purchased a condo in a really hot area near the city center. Although they paid similar amounts for their properties, if in six months Lewis' condo is worth much more. Which economic characteristic does this demonstrate?
Business
1 answer:
bagirrra123 [75]3 years ago
3 0

Answer:

Area preference

Explanation:

Hi, the economic  characteristic that this case  demonstrates is area preference.

Area preference is a very important land characterist that includes many factors like:

History, convenience ( in this case the distance between the area purchased and the city ), and reputation. These factors will affect the price of the land.

Feel free to ask for more if needed or if you did not understand something.

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Tropical Tours reported revenue of $411,000 for its year ended December 31, 2021. Accounts receivable at December 31, 2020 and 2
myrzilka [38]

Answer:

$406,300

Explanation:

The computation of the cash collection is shown below:

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4 0
2 years ago
Jones Lumber Co. has annual fixed costs including depreciation of $300,000 and variable costs that are 88.25 percent of sales. W
STALIN [3.7K]

Answer:

$2,553,191

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= (Fixed cost ) ÷ (Profit volume ratio)

where,  

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= (Contribution margin) ÷ (Sales) × 100

We assume the sales be 100%

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7 0
3 years ago
________ refers to setting price based on buyers' perception of value rather than on the seller's cost.
melomori [17]

Answer:

Value based pricing

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