arizona_assignment - increase the demand for land in...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Read the article linked here: http://www.nytimes.com/2008/08/10/us/10kingman.html? and be prepared to discuss the following questions. 1. Draw a graph representing the supply and demand curves for land in Kingman, Arizona and Las Vegas, Nevada. (According to the US Census Bureau, Kingman has 30 square miles of land and Las Vegas has 131 square miles of land. Your graph should be qualitative, but this fact will help you with scale.) 2. Many people are betting that a new bridge to be built across the Colorado River will
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: increase the demand for land in Kingman. Draw a new line representing this on your graph. What will happen to land values in Kingman? 3. Now assume that in the next decade, fuel costs (in real terms) continue to rise, while no viable alternative fuel becomes widely available. What effect do you expect this will have on land values in Kingman? 4. What are the potential benefits to current residents if the anticipated boom occurs? How about the potential downsides?...
View Full Document

This note was uploaded on 09/23/2008 for the course ECON 002 taught by Professor Mcleod,markpehlivan,ayseozg during the Fall '08 term at Pennsylvania State University, University Park.

Ask a homework question - tutors are online