Answer:
The estimate value of the subject property is $8,269,200
The other information that would be desirable in reaching a conclusion:
The closeness of the property to central business districts as the closer it is the higher the asking price.
The estimate was solely based on revenue, the applicable costs have been ignored.
The average taken might not be a good indication for the subject property because the property might have unique features
Explanation:
The formula for Gross Rent Multiplier is given Property Price / Gross Monthly Rental Income.
In determining the estimate value of the subject property ,we calculate the gross rent multiplier of the new property,then multiply it with the annual rental income.
In ascertaining the GRM of the new property we take the average GRM of the two similar properties in the same area.This is because the new property judging from number of units, lies in-between the other two properties.
GRM for Oaks
GRM=$9000000/($550*140)
GRM =116.88
GRM for Palms
GRM=$6,600,000/($650*90)
GRM =112.82
The average GRM=(116.88+112.82)/2
=114.85
Subject property price=114.85*(120*$600)
=$8,269,200
Labor contract.
A labor contract sets for the rights and responsibilities of labor and management for unions and other labor groups.
Answer:
Lies below its demand curve and is steeper than its demand curve.
Explanation:
The marginal revenue curve for a monopolist lies below the demand curve because of the quantity effect. The quantity effect refers to the fact that even a monopolist must lower its price if it wants to sell a larger quantity of goods or services.
The slope of the marginal revenue curve is steeper than the demand curve because it reflects the market power of the monopolist. Instead, the marginal revenue curve for a perfectly competitive firm (with 0 market power) is horizontal or perfectly elastic.
Answer:
C. Fixed Interval
Explanation:
"Fixed Interval" is a type of <em>Reinforcement Schedule. </em>The "reward" in the situation above is the<em> salary given to the employees</em> during Wednesdays. As noticed, their productivity increases over the week, with the peak on Wednesday.
The<u> "peak" of productivity</u> is the<u> exhibited behavior during pay day.</u> They try to work hard in order to receive a salary. <em>They become more inspired to work during the salary day.</em> It is followed by<em> </em><em>less productivity on Thursdays</em><em> </em>because they have already been rewarded.
Such reinforcement schedule is called the "fixed interval." This also means that their productivity will not increase if they will not be paid.
So, this explains the answer.
