Homework Answers
Answer:
The land has higher value in alternative uses. Whenever you see gas stations downtown, they tend to be in very small, constricted spaces.
The value of the land is so great in alternative uses that no one can support the rental cost of the land needed to build a gas station.
What land there is to use has high enough rent that fuel price in these gas stations is bound to be greater. The fuel sold in these stations will be quite high due to higher rents paid for the land.
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