Multiple Choice
According to the bid-rent model, which of the following changes in the model's underlying assumptions would most likely result in an increase in rents for properties closest to the central business district (CBD) ?
A) A decrease in an individual's hourly wage
B) A decrease in the average traveling speed of the individual's commute
C) A decrease in the number of households attempting to live in the area
D) A decrease in the number of days an individual must commute to work
Correct Answer:
Verified
Correct Answer:
Verified
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