The principle of highest and best use states:
A) over time, competitive forces tend to reduce abnormally high profits.
B) property values are subject to supply and demand.
C) a property should be used for the purpose that results in the highest present value.
D) the higher the capitalization rate, the higher the profit.
Correct Answer:
Verified
Q10: The major weakness of the cost approach
Q11: A decline in value due to factors
Q12: As the capitalization rate goes up, the
Q13: In making an appraisal, the appraiser uses
Q14: The method of determining a capitalization rate
Q16: Define market value and market price.
Q17: In the context of determining value, define
Q18: Name the four elements of value in
Q19: In completing an appraisal using the cost
Q20: Define physical depreciation and functional depreciation.
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