Consider a monocentric urban economy in which every household has the same income and the same tastes. One worker from each household commutes to the CBD. Amenities and public goods are the same throughout the urbanized area. Assume that annual commuting cost per mile for each commuter is t=5500. Housing is a normal good. a. Give a general expression for the slope of the housing-price curve. What are the units of the housing price curve?
b. The Smith family rents a1000 sq. foot apartment. What is the slope of the housing price curve where the Smith family lives? Explain.
c. The Jones family rents a 2000 sq. foot apartment. What is the slope of the housing price curve where the Jones family lives? Explain.
d. Which family lives closer to the city center? Explain.
e. Which family has a higher utility level? Explain?

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total

answer; ///deficit;

answer; situational irony;