Q1. How does labor market pooling increase firm profits regarding urban economics? Draw a figureto support your explanation.Q.2 Workers in America's rust belt cities have lost a substantial portion of their incomes over the1980-2010 period. Using the monocentric city model, explain what will happen to a typical rust beltcity in the face of falling incomes (holding factors, such as population, agricultural rents, andcommuting costs, constant). Why has the actual response of Rust belt cities been different from thistheoretical prediction?

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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Q1. How does labor market pooling increase firm profits regarding urban economics? Draw a figure to support your explanation.