"Suppose that the authority restricts the heights of residential structures. The maximum height is four stories, the height that would normally occur at a distance of six miles from the city center."
Draw two residential bid-rent functions, one for city in the absence of height restrictions and one with height restrictions and discuss the effects of the height restrictions on i) wages, ii) total employment, and iii) land rent in the CBD.
"Suppose that the authority restricts the heights of residential structures. The maximum height is four stories,...
In this exercise, you will analyze the supply-demand equilibrium of a city under some special simplifying assumptions about land-use. The assumptions are: (i) all dwellings must contain exactly 1500 square feet of floor space, regardless of location, and (ii) apartment complexes must contain exactly 15,000 square feet of floor space per square block of land area. These land-use restrictions, which are imposed by a zoning authority, mean that dwelling sizes and building heights do not vary with distance to the...
1. In this exercise, you will analyze the supply-demand equilibrium of a city under some special simplifying assumptions about land use. The assumptions are: • all dwellings are situated within apartment complexes, • all dwellings must contain exactly 1,500 square feet of floor space, re- gardless of location, and • apartment complexes must contain exactly 15,000 square feet of floor space per square block of land area. These land-use restrictions, which are imposed by a zoning authority, mean that dwelling...