UMLAB3_HOUSING&COMMUTING_INCLASS Exercise: How much is the difference in bread c


UMLAB3_HOUSING&COMMUTING_INCLASS
Exercise: How much is the difference in bread cost between living in
Suburban (LI) and living in urban (NYC) yearly (the number of days you
attend the workplace is 200 days a year)?
r: Radial Commute Distance (unit: # miles)
t: per-mile cost (car consumption) (unit: # $/mile)
q: Housing area of floor space (unit: # sf)
p: rental cost per square feet area= (unit: # f2)
• p*q= housing cost (unit: # $)
• t*r = commuting cost (unit: # $)
• c = Bread Cost (unit: # $)
• Income (Consumer Budget) : y = p*q + c + t*r
Assumptions: Teacher working at Queens College campus
• Income: average teacher salary in NYC: y= 64,704 $
Urban Living and Mas transit transport commute
• Assumption: apartment in Harlem, NYC: q= 682 ft2
• Average month rental per square feet Harlem Apartment: p=5.13 $
• Mass Transit Fare: 2.75 $
Suburban Living and private car commute
• Assumption: single suburban house in Shirley, L.I: q= 3000 ft2
• Average monthly rental cost per square feet L.I. House: p= 0.62 $
• Distance from Shirley to Queens College: r= 59 miles
• Operating and ownership car cost per mile: 0.88 $


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