4.4. A semi circular city with radius 5 miles borders the ocean. The center of the region is a se...
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...