Which of the Following Property Subtypes Is Often Considered the Least

question 16

Multiple Choice

Which of the following property subtypes is often considered the least vulnerable to functional obsolescence because of its relatively simple structure and long economic life?

• A)Industrial warehouse
• B)Hotel
• C)Retail strip centers
• D)Suburban office

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Definitions:

Goods

Physical items that are produced and consumed by individuals or businesses to satisfy needs or wants.

Marginal Rate

The rate at which one variable changes relative to a change in another variable, often used in the context of marginal tax rates or marginal rates of substitution.

Convex Preferences

A preference structure where the consumer prefers mixed bundles of goods to extreme bundles, represented graphically by a bowed-inward indifference curve.

Monotonic Preferences

A preference pattern where more of a good is always preferred to less, maintaining a consistent order.