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In the economic model discussed in our class that explains the price-distance relationship, what is...

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Accounting

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In the economic model discussed in our class that explains the price-distance relationship, what is more likely to happen to the slope of the bid-rent curve if the income level of the residents in the linear city increases significantly, assuming that the land supply is tight and other variables in the model are the same? It will become flatter It will become steeper The slope won't change, but the bid-rent curve moves upward None of the above

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