Master this deck with 11 terms through effective study methods.
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Clusters of people and firms in a specific area.
Lower marginal costs from increased production.
Higher productivity with more labor for larger markets.
The benefit from consuming goods.
They create higher population densities than uniform distribution.
Economic benefits from agglomeration for individuals and firms.
A model explaining land value based on market proximity.
By net income after accounting for costs.
The perishability of different goods.
Income equals yield times price minus costs.
Profit decreases due to rising transportation costs.