Consider the Harris Todaro model applied to the Monocentric

Last updated: 3/27/2023

Consider the Harris Todaro model applied to the Monocentric Model that we studied in Module 6 The urban income is y 15 000 The land rent is 3 000 r 3 000 commuting cost is 100 per mile 1 100 The city offers 30 000 jobs J 30 000 After solving the quadratic equation you learn that in equilibrium the population is 109 808 a In equilibrium what is the chance of getting an urban job b What is the implied unemployment rate in the city