Suppose that the growth rate of an industry in an urban area has been found to be
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Suppose that the growth rate of an industry in an urban area has been found to be a function of:
– The growth rate of labor, with a coefficient of 0.75
– The growth rate of capital, with a coefficient of 0.4
– The employment level in the industry
– The rate of growth of employment in the urban area
– The number of flights departing daily from the local airport.
Is growth in this local industry subject to:
– Static localization economies?
– Dynamic localization economies?
– Static urbanization economies?
– Dynamic urbanization economies?
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Urban Economics And Real Estate: Theory And Policy
ISBN: 9781621577706
2nd Edition
Authors: John F. McDonald, Daniel P. McMillen
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