Competing Bid-Rents under Monocentric Assumptions
This model represents a competing bid-rent function under monocentric assumptions; it was developed as a teaching tool for a standard urban land economics course. There are three users of land in this model: offices, manufacturers, and residents. These users compete for limited land near the city center (the axis). The model plots the function of bid-rents actually paid by the users of land (the green curve), while most models of bid-rent functions do not.