Let's say that higher income people have bid up the rent on land in the suburbs, leaving the only low-cost homes/land near the city center. Assume the city wishes to limit low-income housing via a zoning restriction on something like a minimum lot size. With the appropriate Bid-Rent curves, show the impact of this (before and after).

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Certainly The BidRent theory helps illustrate how people and businesses choose locations based on tr... View the full answer