1. Estelle has invested most of her money in an apartment building, a shopping center, a hotel, and a million-dollar home in which she resides.

   1. Are Estelles investments effectively diversified, or has she put all her eggs in the same basket? Explain.

   2. Are Estelles various investments subject to systematic risk, unsystematic risk or bother types of risk? Explain.

   3. Evaluate the divisibility of Estelles investments.

   4. Does Estelle have any use value in her investments? Explain.