You own a house that you rent for $1,500 per month. The maintenance expenses on the house average $280 per month. The house cost $235,000 when you purchased it 4 years ago. A recent appraisal on the house valued it at $257,000. If you sell the house you will incur $20,560 in real estate fees. The annual property taxes are $3,300. You are deciding whether to sell the house or convert it for your own use as a professional office. What value should you place on this house when analyzing the option of using it as a professional office?

Match each definition in column 1 with a vocabulary word from column 2." some of the entries in column 2 do not apply costs which do not change with the level of output costs which change with the level of output the change in total costs resulting from an increase in output by one unit function showing the quantities of a particular good demanded at a range of price when the quantity supplied of a good is greater than the quantity demanded when the quantity demanded for a particular good is greater than the quantity supplied the price and quantity determined in a market when the supply equals the demand when revenue exceeds costs when costs exceeds revenue output where revenue = costs