According to the bid-rent model, which of the following changes in the model's underlying assumptions would most likely result in a decrease in rents for properties closest to the central business district (cbd)?
a. an increase in an individual's hourly wage
b. an increase in the average traveling speed of the individual's commute
c. an increase in the number of households attempting to live in the area
d. an increase in the number of days an individual must commute to work
Answers: 2
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According to the bid-rent model, which of the following changes in the model's underlying assumption...
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