The following graph shows the high-income households’ and low-income households’ willingness to pay for the premium gap to live in the neighborhood,…
The following graph shows the high-income households’ and low-income households’ willingness to pay for the premium gap to live in the neighborhood, at a given the income composition. Suppose at the moment there are 75 high-income households in the neighborhood. Which of the following statement is true. (a) Because there are more high-income households than low-income households, high income households outbid low-income households. (b) This […]