Assume that a resident of Manorhausen lives 12 miles from the city center and has an annual commute cost of $175 per mile based on one-way travel. Her annual income is $35,000 and the annual rental cost of housing is $20 per sq. ft., and she has a 500 sq ft dwelling. How much does she spend per year on non-housing consumption? (3 points)
Assume that a resident of Manorhausen lives 12 miles from the city center and has an annual commute cost of $175 per mile based on one-way travel. Her annual income is $35,000 and the annual rental cost of housing is $20 per sq. ft., and she has a 500 sq ft dwelling. How much does she spend per year on non-housing consumption? (3 points)
Chapter17: Capital And Time
Section: Chapter Questions
Problem 17.6P
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Transcribed Image Text:Assume that a resident of Manorhausen lives 12 miles from the city center and has an annual
commute cost of $175 per mile based on one-way travel. Her annual income is $35,000 and
the annual rental cost of housing is $20 per sq. ft., and she has a 500 sq ft dwelling. How
much does she spend per year on non-housing consumption? (3 points)
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