Starbucks sells coffee in both New York City and in rural upstate New York. The price of coffee is higher in New York City.
This fact means that the value of marginal product of land is ________ in New York City and so Starbucks is willing to pay a ________ rent in New York City. A) lower; lower
B) higher; lower
C) lower; higher
D) higher; higher
Question 2
The above figure shows Jane's budget line and two of her indifference curves. Which of the following happens to Jane's budget line if the price of a steak dinner fell?
A) It would rotate inward around the vertical intercept, 10 lobster dinners.
B) It would rotate outward around the vertical intercept, 10 lobster dinners.
C) It would rotate inward around the horizontal intercept, 20 steak dinners.
D) It would rotate outward around the horizontal intercept, 20 steak dinners.
This painting depicts New Orleans in 1803, when the city was acquired—along with much of the modern
Louis Comfort Tiffany, Tiffany Glass & Decorating Co. (1893–1902), Corona, New York, Peacock ...
Working and Living and Playing in the City Dump of Phnom Penh, Cambodia
The Rural–Urban Continuum
Use tap water when making coffee, tea, or juice from concentrate, and for food preparation
Maple Danish with coffee