in this exercise you will analyze the supply demand equilibriumof a city under some 3720682

In this exercise, you will analyze the supply-demand equilibriumof a city under some special

simplifying assumptions about land-use. The assumptions are: (i)all dwellings must contain exactly

1500 square feet of floor space, regardless of location, and (ii)apartment complexes must contain

exactly 15,000 square feet of floor space per square block of landarea. These land-use restrictions,

which are imposed by a zoning authority, mean that dwelling sizesand building heights do not vary

with distance to the CBD, as in the monocentric city model fromChapter 2. Distance is measured in


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