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This is Urban Economics problems. Thank you (1) Bid Rents There are three bidders in town, office firms, office workers, and agricultural firms. Their respective

This is Urban Economics problems. Thank you

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(1) Bid Rents There are three bidders in town, office firms, office workers, and agricultural firms. Their respective bid rent functions are given by: Office firm Ro=200-5x, office workers Rw=180-x, and agricultural firms Ra=164. where R denotes the bid rent and x the distance from the city center. a) Where does each bidder locate? (calculate the respective distances from the city center) b) Now assume that the city imposes a fuel tax on offices and on office workers resulting in an increase in their corresponding marginal transportation cost by 1. How does this change your answer to (a)

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