6. Suppose innovations in farming lead to an increase in agricultural land rent from rÃOto rÃ₁. Answer the following questions using the predictions of the urban model.Assume that the supply-demand equilibrium holds, and that the city's populationmust fit within its boundary.(a) Illustrate the effects of the increase in agricultural land rent on the diagrambelow. Be sure to label the change(s) to the city boundary, x, clearly.(b) What happens to the building heights?(c) What happens to dwelling sizes?

Urban model are tools that economists and urban planners use to understand the patterns of land use,…

Suppose innovations in farming lead to an increase in agricultural land to rÃ₁. Answer the following questions using the predictions of the urbar Assume that the supply-demand equilibrium holds, and that the city's p must fit within its boundary. (a) Illustrate the effects of the increase in agricultural land rent on th below. Be sure to label the change(s) to the city boundary, x, clea (b) What happens to the building heights? (c) What happens to dwelling sizes? $ X

Suppose innovations in farming lead to an increase in agricultural land to rÃ₁. Answer the following questions using the predictions of the urbar Assume that the supply-demand equilibrium holds, and that the city's p must fit within its boundary. (a) Illustrate the effects of the increase in agricultural land rent on th below. Be sure to label the change(s) to the city boundary, x, clea (b) What happens to the building heights? (c) What happens to dwelling sizes? $ X

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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