Question: Consider a simple, homogeneous monocentric city with a circular shape. The location rent premium at the center is $8,000 per year per acre and the

Consider a simple, homogeneous monocentric city with a circular shape. The location rent premium at the center is $8,000 per year per acre and the density is 8 persons per acre. Supposing that the annual transportation cost per person per mile of distance from the CBD is $200 (round-trip), how big is the radius of the city?

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