Recall the locational indifference condition in the model of housing prices with commuting costs: ∆p·h(x)+∆x·t=0

a) if h(x) = 750, have we modeled consumers as being able to substitute? how do you know?

b) derive the slope of the bid-rent curve when h(x) = 750

c) now suppose h(x) = 650+(x^2) for x≥0. graph this equation and provide an interpretation for h(0) = 650 (hint: think about what x represents).

d) rederive the slope of the bid-rent curve using h(x)=650+(x^2)

e) find the distance x at which the two bid rent curves from part b and d have equal slope. (hint: set h(·) from part b equal to part d and solve).

Aldrich and co. sold goods to donovan on credit. the amount owed grew steadily, and finally aldrich refused to sell any more to donovan unless donovan signed a promissory note for the amount due. donovan did not want to but signed the note because he had no money and needed more goods. when aldrich brought an action to enforce the note, donovan claimed that the note was not binding because it had been obtained by economic duress. was he correct? [aldrich & co. v. donovan, 778 p.2d 397 (mont.)]

Myflvs -question 3 multiple choice worth 2 points)(10.04 hc)in panama city in january, high tide was at midnight. the water level at high tide was 9 feet and1 foot at low tide. assuming the next high tide is exactly 12 hours later and that the height of thewater can be modeled by a cosine curve, find an equation for water level in january for panamacity as a function of time (t).of(t) = 4 + 5of(t) = 5 cost + 4o 460) = 5 cos 1+ 4of(0) = 4 cos + 5

Suppose that the u.s. dollars-mexican pesos exchange rate is fixed by the u.s. and mexican governments. assume also that labor is mobile between the united states and mexico due to low transportation costs.which of the following situations is likely to happen as a result of a simultaneous increase in the demand for u.s. goods and decrease in the demand for mexican goods? (pick mexican unemployment rate increases, and the country undergoes bad economic times for a sustained u.s. unemployment rate increases, and the country undergoes bad economic times for a sustained mexican unemployment rate rises at first, but it soon drops as unemployed mexicans move to the united states for mexican unemployment rate rises at first, but then it drops as mexican pesos depreciate against u.s. dollars.