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About Lecture Notes, Lectures 1 - Introduction & Axioms of Urban Eco Lecture Notes, Lectures 1 - Introduction & Axioms of Urban Eco
This document provides an introduction to urban economics. It defines urban economics as exploring how households and firms make location choices to maximize utility and profits. A city is defined as a dense population where proximity reduces transportation costs for goods, people, and ideas. For cities to exist, there must be agricultural surplus to support city dwellers, urban production to exchange for food, and transportation for exchanges. The document outlines five axioms of urban economics: prices adjust for locational equilibrium, self-reinforcing effects create clusters, externalities cause inefficiency, production benefits from economies of scale, and competition drives economic profit to zero.
Detailed Information
| Author: | ['minlwinthein'] |
|---|---|
| Publication Year: | 2019 |
| Pages: | 3 |
| Language: | English |
| Format: | |
| Price: | FREE |
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