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The Northwest Territories regularly has the highest average income in Canada. However, it has a punishing climate with 24 hour sunlight in the summer and
The Northwest Territories regularly has the highest average income in Canada. However, it has a punishing climate with 24 hour sunlight in the summer and an average high temperature of -18 C in January. Oppositely, areas on Vancouver Island are known for moderate temperatures with an average high in Nanaimo of 6 C in January and lower incomes. Using indifference curves and isoprofit curves model the market envelope for average high temperature and incomes and consumer choices.
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