a) What underlying assumption of most urban economics models implies that they tell us more about long-run changes than about short-run changes? b) Why does that same assumption generate equilibrium equalities in urban models when moving costs may generate inequalities in the real world? c) How does rent control illustrate how different short-run and long-run effects of urban policies can be?

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1 Answer The long run us a situation were variables are seen in all the main factors of production A ... View the full answer