Question
The Ontario government has said that it is worried about urban sprawl (expansion of residential areas onto some of the land used for farming, especially
The Ontario government has said that it is worried about urban sprawl (expansion of residential areas onto some of the land used for farming, especially when large houses are built on large lots). In response, the province created a Greenbelt around Toronto. Suppose that the Greenbelt limits growth in places between 30 - 50 Km from the city centre
a) What would the effect of this policy on the price of land at various distances from the centre
b) Ignoring any environmental benefits, is the greenbelt policy a net benefit or a net cost to society?
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