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Consider a monocentric city where workers commute to the city centre by automobiles. Suppose a new autonomous driving technology has been introduced in the city,
Consider a monocentric city where workers commute to the city centre by automobiles. Suppose a new autonomous driving technology has been introduced in the city, which greatly reduces commuting cost (because it reduces the opportunity cost of commuting as workers can relax or work on stuff during their commute). Use Figure 14-3 and demonstrate the effects of the introduction of autonomous driving vehicles on 1) the residential land market, 2) the business land market, and 3) the urban labour market
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