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Category > Biology Posted 31 Jul 2017 My Price 6.00

This is my take home exam and i need help.

TAKE HOME

50 Points

 

The Economics of Cities

MID-TERM EXAM

Spring 2017                                                NAME___________________

 

 

 

This assignment is due Thursday, March 9th at noon and must be typed.

 

Answer any 4 of 5

 

1.      Given the following diagram, which focuses on Fertility and Land Rent, and assuming that the geographic region that is served is very small, explain what would happen if a public works irrigation project was erected that supplied cheap water to these farmers?  Be sure to comment on the impact of this project on (1) supply of corn, (2) landowners, (3) farmers and (4) consumers of corn.

 

How would your answer change if we assume that the geographical region that is served is very large (i.e. national in scope)? 

 

 

 


 

 

2.      Internal scale economies in production are caused by what two factors? Explain

 

 

3.      What is the Leftover Principle?  Be sure to include a formula in you explanation.

 

4.      What argues against an intermediate location for a transfer-oriented firm? (Explain in detail.)

 

 

5.      As the flexible farmer approaches the marketplace, the farmer substitutes nonland inputs for land.  As a result, the bid-rent function of the flexible farmer is steeper than the bid-rent function of the inflexible farmer.  What happens as the flexible farmer moves away from the marketplace?  Is the flexible bid-rent function steeper or flatter than the inflexible function? Explain.

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SophiaPretty
(5)
Status NEW Posted 31 Jul 2017 02:07 PM My Price 6.00

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