(O'Sullivan, 5.1) Suppose a region's workforce of 14 million is initially split equally between two cities,...
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(O'Sullivan, 5.1) Suppose a region's workforce of 14 million is initially split equally between two cities, X and Y. The urban utility curve peaks at 4 million workers, and beyond that the slope is -$3 per million workers. The initial equilibrium utility level is $60. Suppose city X experieinces technological innovation that shifts its utility curve up by $12. 5.1 Draw a pair of utility curves, one for X and one for Y, and label the positions immediately after the innovation (before any migration) as Xo for city X and Yo for city Y. Use arrows along the curves to indicate the migration that follows. 5.2 In the new equilibrium, the utility level of X is while the population of Y is million. and the population of X is million, (O'Sullivan, 5.1) Suppose a region's workforce of 14 million is initially split equally between two cities, X and Y. The urban utility curve peaks at 4 million workers, and beyond that the slope is -$3 per million workers. The initial equilibrium utility level is $60. Suppose city X experieinces technological innovation that shifts its utility curve up by $12. 5.1 Draw a pair of utility curves, one for X and one for Y, and label the positions immediately after the innovation (before any migration) as Xo for city X and Yo for city Y. Use arrows along the curves to indicate the migration that follows. 5.2 In the new equilibrium, the utility level of X is while the population of Y is million. and the population of X is million,
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