Question
The value of clean lake water for price of homes in Maine is estimated by: Price of house = $25,899 + $6,790(SQ.FT.) + $9,700(WQ) -
The value of clean lake water for price of homes in Maine is estimated by:
Price of house = $25,899 + $6,790(SQ.FT.) + $9,700(WQ) - $800(DC)
SQ.FT. = the square footage of the house
WQ = water quality defined as the depth of visibility in meters
DC = Distance from city
How does the price of a house change when water quality decreases from 6 meters to 3 meters?
Group of answer choices
$29,349
-$29,349
$29,100
-$29,100
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Managerial Economics Markets and the Firm
Authors: William Boyes
2nd edition
618988629, 978-0618988624
