Fill This Form To Receive Instant Help
Fill This Form To Receive Instant Help
Homework answers / question archive / A hedonic study of the housing market generates the following information: Base price (BP)
A hedonic study of the housing market generates the following information: Base price (BP). The average house has three bedrooms and is five miles from the city center. The price of the average house is $90,000. Access price (D). The price of housing drops by $1000 for every additional mile from the city center. Bedroom price (BR). The price of housing increases by $10,000 for every additional bedroom. A. Write out the hedonic equation. B. Based on the above information; What is the price of a four-bedroom home that is located 6 miles from the city center?
