The long question is : The winning bid for a house at a bank auction was $10. But the house was not in good condition. The couple had to pay $65,000 in explicit expenses and spend many months doing the repairs. The time cost or lost wages are $10,000. What is the market value of the house after repairs are done?
The long question is : The winning bid for a house at a bank auction was $10. But the house was not in good condition. The couple had to pay $65,000 in explicit expenses and spend many months doing the repairs. The time cost or lost wages are $10,000. What is the market value of the house after repairs are done?
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter18: Auctions
Section: Chapter Questions
Problem 18.3IP
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Please discuss the long question on Housing Prices ( What is the market value of the house after repairs are done?) from Assignment 1. Post under this Discussion 1 thread. Discuss what concept you are using to answer the question. What formula you are using. How to do the arithmetics to get the answer.
The long question is : The winning bid for a house at a bank auction was $10. But the house was not in good condition. The couple had to pay $65,000 in explicit expenses and spend many months doing the repairs. The time cost or lost wages are $10,000. What is the market value of the house after repairs are done?
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