Engineering Economics
The amount of property in which a willing buyer to a willing seller for the property when neither one is under the compulsion to buy nor to sell is called ______.

Fair value
Book value
Market value
Good will value

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Engineering Economics
Pick up the correct reason for making conceptual (or preliminary) estimate from the following:

To check quotations from contractors and/or sub-contractors
To compute target estimate for the owner while drawing and specifications are in initial stage
All of these
To have a check on a definitive cost estimate

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