QUESTION 1 w be o o s tyy 1.200 per month to rent an apartment in the downtown area. She teaches on campus four days a d . On the day when she must commute, given the heavy traffic congestion, it takes her an hour each way cording to the assumptions of the bid rent model what should this professor be willing to pay in rent per your calculations assume there are four weeks in a given month.) QUESTION 2 Anex residential development will face competition from other new developments, other builders, and sales of existing homes. To determine if demand e w to thy proceeding with the project, a developer would be most interested in estimating a N