By Alan W. Evans
ISBN-10: 1349018899
ISBN-13: 9781349018895
ISBN-10: 1349018910
ISBN-13: 9781349018918
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Only if multistorey houses were built on the land would the number of space units to the acre be increased. Intuitively this position is unreasonable, and so the fifth postulate must be laid down in order to avoid it. t t This argument seems similar to that directed against the neoclassical theory of production by Joan Robinson (1965). LIMITATIONS, ASSUMPTIONS, DEFINITIONS 25 The two types of space should therefore be considered separately, and the demand and supply for both types of space should be considered as separate markets.
Therefore, if he finds the hours of work at one job too long he may change his job to one at a point nearer to his home, and thus spend less time travelling and have more time available for leisure or work. A worker who finds the hours too short at one place may choose to travel further and try to obtain a job at a higher rate of pay but further from his home. There is some evidence that hours of work do vary systematically in urban areas. Malamud, in a study of the economics of office location, found that, in the United States, hours of work at suburban offices are longer than in downtown offices.
N) (3·3) where q is the number of space units he occupies, t is the time spent travelling from home to work (at the city centre), w denotes the hours of work, and a, (i = 1, 2, ... , n) are all the n other activities of the householder. The utility function is maximised subject to a budget constraint: t The two approaches, cost minimisation and utility maximisation, are in a sense equivalent. The relationship between the two methods seems to be similar to that between the primal and the dual in linear programming.
The Economics of Residential Location by Alan W. Evans
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