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All households are identical: they have the same utility function u = b lthL + x and the same budget constraint p h + x

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All households are identical: they have the same utility function u = b lthL + x and the same budget constraint p h + x = vv - ts. Housing is zoned so that everyone lives in identical (but for loca tion) housing with h = 1 (a 1200 square foot house). Derive the equation of the household 's bid- rent function for housing pls) at any particular site s. 10(5) =

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