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Suppose there is a new, faster mode of transport that is available to people who live less than 5 miles from the CBD.Show what happens
Suppose there is a new, faster mode of transport that is available to people who live less than 5 miles from the CBD.Show what happens to the bid-rent gradient in this urban area.If the transport improvement was availaable to the entire urban area, what would happen to the bid-rent gradient? Explain.
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