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Business, 20.03.2020 00:01 sosasubzero

Finally, focus again on the inland city, and suppose that the zoning authority imposes a building height restriction. This restriction limits housing square footage per block to 7,500, half the previous amount. The cost of building materials per square block falls from 90 to 43 (note that the cost is less than half as much because of diminishing returns). Find the new value of x (compare the answer in (h)), and repeat (d) and (e). How does the height restriction affect the utility of urban residents? Explain intuitively why

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Finally, focus again on the inland city, and suppose that the zoning authority imposes a building he...
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