A couple--one a mathematician, the other an economist were looking at houses in a new subdivision and they were especially excited by houses that were at 13 Oak St., 29 Deer Ave. and 47 Sunflower Dr.--all of which were all modest 2 bedroom houses on small lots.
The economist asked the real estate agent, "What is the price of these houses?"
The real estate agent said, "The first one is $500,000."
She said, "Wow, what are the prices of the other two?"
The real estate agent said, "They are $650,000 and $800,000."
She then asked "Those are above our budget. Are there any houses for less than that?"
The real estate agent said, "Yes, for the models you looked at, there is a 2 bedroom house at 10 Maple St. is $250,000, one at 21 Elk Ave. is $150,000 and there is also one at 40 Rose Dr. that is $195,000."
Then the mathematician asked, "Why the price differential between these houses? They are the same model of house after all."
The real estate agent then said, "Sir, as a mathematician, I thought you'd certainly understand the difference. The addresses on Oak, Deer, and Sunflower make them all prime locations."
The economist asked the real estate agent, "What is the price of these houses?"
The real estate agent said, "The first one is $500,000."
She said, "Wow, what are the prices of the other two?"
The real estate agent said, "They are $650,000 and $800,000."
She then asked "Those are above our budget. Are there any houses for less than that?"
The real estate agent said, "Yes, for the models you looked at, there is a 2 bedroom house at 10 Maple St. is $250,000, one at 21 Elk Ave. is $150,000 and there is also one at 40 Rose Dr. that is $195,000."
Then the mathematician asked, "Why the price differential between these houses? They are the same model of house after all."
The real estate agent then said, "Sir, as a mathematician, I thought you'd certainly understand the difference. The addresses on Oak, Deer, and Sunflower make them all prime locations."
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