Consider a region with 6 million workers and two cities (A and B), each with an...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Consider a region with 6 million workers and two cities (A and B), each with an initial workforce of 3 million (the utility-maximizing workforce). Suppose the heli-segway (a flying personal transporter) replaces the automobile, cutting commuting cost and increasing the utility-maximizing urban workforce per city to 5 million. The positively sloped part of the new utility curve is steeper than the negatively sloped part. A. Show the effect of the heli-segway on the urban utility curve in the typical city. B. A workforce of 3 million [is, isn't] a stable equilibrium because.... C. Using the new utility curves, show the changes in the workforces of two cities one that grows and one that shrinks. Label the initial point i and indicate the directions of the changes with arrows. D. The new equilibrium number of cities is and each city has a population of Consider a region with 6 million workers and two cities (A and B), each with an initial workforce of 3 million (the utility-maximizing workforce). Suppose the heli-segway (a flying personal transporter) replaces the automobile, cutting commuting cost and increasing the utility-maximizing urban workforce per city to 5 million. The positively sloped part of the new utility curve is steeper than the negatively sloped part. A. Show the effect of the heli-segway on the urban utility curve in the typical city. B. A workforce of 3 million [is, isn't] a stable equilibrium because.... C. Using the new utility curves, show the changes in the workforces of two cities one that grows and one that shrinks. Label the initial point i and indicate the directions of the changes with arrows. D. The new equilibrium number of cities is and each city has a population of
Expert Answer:
Answer rating: 100% (QA)
A The introduction of the helisegway will shift the urban utility curve upward with the upward shift ... View the full answer
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date:
Students also viewed these economics questions
-
1) Consider a region with a workforce of 12 million in a single city. The urban utility reaches its maximum with 3 million workers and includes the following combinations: 11 35 12 30 25 Workers 1 3...
-
A race of dwarfs lived near a forest where apple trees grew wild. Any dwarf who wanted to could enter the forest and pick apples for himself and his family. One day a giant came, claimed the forest...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
At its headquarters in Ventura, California, Patagonia's office space feels more like a national park lodge than the main office of a $400 million retailer. It has a Douglas fir staircase and a...
-
Find the center of mass of the three-mass system shown in Fig. 738. Specify relative to the left-hand 1.00kg mass. 1.50 kg 1.10 kg 1.00 kg 0.50 m 0.25 m -
-
Solve Prob. 7.94 assuming that dC = 9 ft. Problem 7.94: An oil pipeline is supported at 6-ft intervals by vertical hangers attached to the cable shown. Due to the combined weight of the pipe and its...
-
Awesome Adventures Travel, Inc., recorded revenues of \($2,400\) earned on account by providing travel service for clients. Requirements 1. How much are the businesss cash and total assets after the...
-
Maxwell Communications paid a dividend of $3 last year. Over the next 12 months, the dividend is expected to grow at 8 percent, which is the constant growth rate for the firm (g). The new dividend...
-
Prob 2: Liabilities Equity Share Capital 12% Preference share capital General Reserve 16% debentures Trade payable Bank overdraft Rs. 2,00,000 Machinery 3,60,000 Investment Assets Rs. 5,92,000...
-
Alabama Atlantic is a lumber company that has three sources of wood and five markets to be supplied. The annual availability of wood at sources 1, 2, and 3 is 15, 20, and 15 million board feet,...
-
A manufacturer uses 100,000 components costing $1 each at a constant rate throughout the year. The cost of making a single order for more components is $10 and the holding costs for each component...
-
Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its job cost sheet reports direct materials of $6,000, direct labor of $2,800, and applied overhead of $2,240. Custom...
-
You expect to need $97,000 per year for 22 straight years when you retire, and the first annual payment will take place 40 years from today. If you wanted to fully fund your retirement with a single...
-
Fisher Shipping has a truck that it is testing for impairment. The truck has a book value of $73,800, but a fair value of $62,100. If the expected cash flows are $70,600, record any December 31...
-
Which form of returns to specialization means that the units of resources required to produce one unit are assumed to remain the same no matter where a country is on the production possibility...
-
Supposed that each of the following rows represents the choice faced by policy makers given the current set of U.S. institutions and technology. What is the opportunity cost of reducing unemployment...
-
A legal duty must be established to assess Samantha's liability for Timothy's death. If no obligation exists, Samantha cannot be held liable. Legal duty depends on harm foreseeability. In Dorsey v....
-
Write a paper about medication error system 2016.
-
On July 5, 2000, Richard Price signed a written employment contract as a new salesman with the Mercury Supply Company. The contract was of indefinite duration and could be terminated by either party...
-
G.A.S. married his wife, S.I.S., on January 19, 2000. He began to suffer mental health problems in 2006, during which year he was hospitalized at the Delaware State Hospital for eight weeks. Similar...
-
Jesse Carter and Jesse Thomas had an auto accident with a driver insured by Allstate. Carter and Thomas hired attorney Joseph Onwuteaka to represent them. Mr. Onwuteaka sent a demand letter for...
-
Name the six matters the auditor often considers in obtaining an understanding of the control environment.
-
In a general sense, why does the auditor acquire an understanding of the internal control structure?
-
Explain the relationship between the audit strategy and the necessary level of understanding of the internal control structure.
Study smarter with the SolutionInn App