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1. Using the concepts underlying the Bid Rent Function, and the role of commuting costs and housing prices, explain tailgating patterns at a typical FSU home football game in Tallahassee. 2. Using the production possibilities frontier and/or pareto optimality, evaluate how trade benefits the Tallahassee regional economy. How might this be different from Orlando? 3. Policymakers in Mumbai and local business leaders believe the city's urban slums are a blight and should be bulldozed because they are inefficient, disorderly, and unproductive. Evaluate this observation within the context of the concepts and material discussed in class. 4. Tallahassee has experienced a resurgence of agricultural production on edge of the city. Many believe this growth is due to rising demand from city dwellers. What does this suggest about the city's urban form using the Bid Rent Function. 5. Local policymakers are encouraging urban growth and development. If Tallahassee is successful in encouraging growth, including revitalizing the downtown area, what are the implications for the rate of change in housing prices closer into the city compared to the outer edges of the city based on the Bid Rent Function? 6. Why is the capitalization rate important in the housing market? How would lower expected rents in the housing market influence the capitalization rate and what would you expect to happen to investment in the housing market? 7. Elected officials in the state legislature are supporting legislation that subsidizes the entertainment industry, specifically film and sports stadiums, because they promote economic growth for cities. Evaluate this claim if the employment multipliers for the sports entertainment, higher education, and aerospace industries are 1.5, 2.3, and 5.0 respectively.
For three years, there was no technological change in Longland but capital per hour of labor increased from $10 to $20 to $30 and real GDP per hour of labor increased from $3.80 to $5.70 to $7.13. Then, in the fourth year, capital per hour of labo..
MPS= 40 with no government and no foreign trade a 10 billion dollar increase in investment will enventually result in an increase in consumption or spending and how much
The operations manager of Black Cat Blades Ltd. of Edmonton, Alberta, is examining the cost of maintaining the company's manufacturing facility. Maintenance occurs every month. The cost of maintenance starts at $2250 and it will grow by $20 each t..
wooldridge using data from 1988 for houses sold in andover massachusetts from kiel and mcclain 1995 the following
Consider the market for taxi ridesin a particular metropolitan area. a) Suppose that, when the price permile increases by 40%, total miles demanded falls by 30%. Solve for the price elasticity of demand.
You are appointed secretary of the treasury of a recently independent country called Rugaria. The currency of Rugaria is the lav. The new nation began fiscal operations this year and the budget situation is that the government will spend 10 millio..
Suppose that businesses buy a total of $100 billion of the four resources (labor, land, capital, and entrepreneurial ability) from households. If households receive $60 billion in wages, $10 billion in rent, and $20 billion in interest
An advisory group decided to investigate this claim, believing it was too large. A sample of 200 traffic accidents this year showed 74 persons were also involved in another accident within the last five years.
Four wheel bearings are to be replaced on a company vehicle. The mechanic has selected the four replacement parts from a large supply bin in which 10% of the bearings are defective and will fail within the first 100 miles.
The quantity demanded of Good Z depends upon the price of Z (Pz), monthly income (Y), and the price of a related Good W (Pw). Demand for Good Z (Qz) is given by equation 1 below: Qz = 150 - 8Pz + 2Y - 15Pw
J.C. Olson & Co. had earnings per share of $8 in year 2006, andit paid a $4 dividend. Book value per share at year's end was$80. During the same period, the total retained earningsincreased by $24 million. Olson has no preferred stock, andno new c..
man wants to help provide college education for his daughter. He can afford to invest $600/yr for the next 4 years, beginning on the girl's 4th birthday, he wishes to give his daughter $4000 on her 18th 19th 20th and 21th birthdays, for a total of..
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