Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1/ True, false or uncertain? Justify your response to each of the following statements b) Covid-19 has reduced the fraction of people who commute and,

1/ True, false or uncertain? Justify your response to each of the following statements

b) Covid-19 has reduced the fraction of people who commute and, with more companies shifting their employees to work from home more often, this reduction can be expected to persist even if there is no change in the number of jobs in the city. Fewer commuters on the road reduces the cost of commuting for the people who do commute. Suppose that the shift in the cost of commuting is proportional to percentage reduction in the fraction: e.g. if there are 25 percent fewer commuters then the cost of commuting drops by 25 percent. The change in commuting would have no effect on the optimal size of a city, and it would decrease the equilibrium size of a big city and increase the size of some small cities

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elements Of Chemical Reaction Engineering

Authors: H. Fogler

6th Edition

013548622X, 978-0135486221

Students also viewed these Economics questions