The Developer Will Face a Variety of Costs Throughout the Project's

question 29

Multiple Choice

The developer will face a variety of costs throughout the project's life. Which of the following would be classified as a soft cost?

• A) Legal fees of the permitting process
• B) Costs of materials
• C) Labor cost of subcontractors for construction
• D) Cost of land

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Definitions:

Equilibrium

A state in a market where supply equals demand, and there is no tendency for change in the price or quantity.

Price Floor

A government or regulatory-imposed price control that sets the minimum allowable price to be charged for a particular good or service. It is aimed at protecting producers by ensuring prices do not fall below a certain level.

Government

The governing body of a nation, state, or community, responsible for making and enforcing laws and policies.

Pencils

Writing instruments with a thin form factor, containing a core of graphite or a color pigment, used for writing or drawing.