Competition for the currently available supply of locations and space coupled with the existing supply of leasable space, determines:
A. the current level of rental rates for each submarket and property
B. the riskiness of the expected cash flows of an income-producing property
C. the timing of the expected cash flows of an income-producing property
D. the cost of financing the purchase of a property
Answer: A. the current level of rental rates for each submarket and property
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Owners of ________ have unlimited liability
A) partnerships and corporations B) corporations C) proprietorships and partnerships D) partnerships, proprietorships, and corporations
Assume the technology for producing personal computers improves and, at the same time, individuals discover new uses for personal computers so that there is greater utilization of personal computers. Which of the following will happen to equilibrium price and equilibrium quantity?
A) Price will increase; quantity cannot be determined. B) Price will decrease; quantity cannot be determined. C) Quantity will increase; price cannot be determined. D) Quantity will decrease; price cannot be determined.
In comparing monopolistic competition to perfect competition, one can conclude that the lack of free entry is the key to having the ability to set price
Indicate whether the statement is true or false
The production side efficiency loss of a tariff is caused by
A) higher profits gained by foreign producers. B) the expansion of relative inefficient domestic production. C) the contraction of domestic consumption. D) the increase in government revenue.