Calculate the new size of the city

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Reference no: EM13771416

Three bid rent curves for office space, residential areas, and agriculture are given below

Po=8-2x

Pr=5.5-0.5x

Pa=2-0.15x

Calculate the size of the city.

Suppose the mayor is suggesting an increase in gas taxes that would affect the commute costs and thus bid rent curves for residents Pr=5.5-0.75x. Calculate the new size of the city.

Design another policy that could achieve the same reduction in city size as in b)

Reference no: EM13771416

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