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Apartments in New York City are priced higher than those 15 miles from the city because O landlords in New York City just dont understand economics. 0 firms are competing to earn a monopoly position O of the difference between what a factor of production earns and what it could in earn in the next-best alternative. O all the apartment prices in New York have government-imposed rent controls.
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C) of the difference between what a factor of production earns and what it could in earn in the next- best alternative.

Apartments in New York City are priced higher than those 15 miles from the city because of the difference between what a factor of production earns and what it could in earn in the next- best alternative

As people prefer more to live in the city than 15 miles away. This will give the landlords to increase the prices.

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