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Draw a graph that shows the expected (i.e., most common) relationship between housing prices and a...

Draw a graph that shows the expected (i.e., most common) relationship between housing prices and a valued environmental amenity. Make sure you label your graph. In words, describe the relationship that is illustrated in the graph.

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Answer #1

Amenities are able to increase the price of a house because ot increases the attractiveness of buying a house. When we talk about environmental amenity, it implies that the house has access to clean and fresh air, clean potable water, and all other qualities that are helpful in improving the quality of life of people living in the house. With a valued environmental amenity, the price of a house is going to rise.

Hence there should a direct positive relation between the valued environmental amenity and the housing prices. With more amenities, the prices are going to be higher (suppliers demand a higher price for providing cleaner air and water)

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