Final answer:
The demand for elementary school quality can be inferred from residential property values. Higher quality schools attract more families and increase demand for housing, leading to higher property values.
Step-by-step explanation:
The demand for elementary school quality can be inferred from residential property values. When the quality of elementary education is considered a public good, it affects the desirability and value of residential properties. Higher quality schools tend to attract more families and increase demand for housing in those areas, leading to higher property values. Conversely, lower quality schools may deter families from living in a particular area, resulting in lower property values.
For example, if a neighborhood has highly rated elementary schools with good reputations, families may be willing to pay a premium to live in that area. The increased demand for housing in these neighborhoods can drive up property values. On the other hand, if a neighborhood has poorly performing schools or a lack of quality educational options, it may be less attractive to families, leading to lower demand and potentially lower property values.
Therefore, by examining the relationship between residential property values and the quality of elementary education in an area, we can infer the demand for elementary school quality.