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Marginal benefits and marginal costs you would face

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Reference no: EM132550189

Suppose you are currently renting a one-bedroom apartment in Toronto for $1500 per month. You've been saving up for a down payment on a condo. If you buy a condo, you'll have to pay property tax, monthly condo fees (for building services) and monthly mortgage payments. You will, however, own your own condo.

Question:

Use marginal analysis to decide whether you would continue renting or buy the condo. Explain some of the marginal benefits and marginal costs you would face

Reference no: EM132550189

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