Use urban Economic and base economie to answer these short answers
(a) Why do cities exist? Why don’t we all just live on large lots of land in Texas/rural Ontario/etc? We could be self-sufficient and avoid all the hassles of city life. (b) Why is Bay Street a thing? Wouldn’t each of the financial firms be better off being in a smaller city away from each other? They would have less competition, could offer their employees less money due to lower cost of living, and have lower rent. (c) Why is Las Vegas so much cheaper than Toronto? It is lower rent per square foot of living space, shorter buildings, larger home sizes, lower density. Why? (d) If economists are such big fans of congestion pricing, why don’t we see it more often in the real world? (e) How could we implement congestion pricing so that it would make all road users better off?