The budget constraint for the consumer analysis

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Write down the utility function and the budget constraint for the consumer analysis. -A) Explain what the budget constraint tells you. B) What are the predictions of the model regarding price per square foot and square footage as location becomes further away from the CBD. 3)-explain the phenomenon that housing prices decrease as we move away from the CBD from a compensating differential standpoint and from a demand-supply standpoint.

Reference no: EM131241692

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