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Why Is Gentrification Considered an Urban Problem? in Three to Five

question 5

Essay

Why is gentrification considered an urban problem? In three to five sentences, explain what happens to residents of a neighborhood when it goes through the process of gentrification.


Definitions:

Cartel

Market in which some or all firms explicitly collude, coordinating prices and output levels to maximize joint profits.

Price Strategies

Techniques used by companies to price their products or services with a view to maximizing profits or market share.

Marginal Revenue Function

The rate at which total revenue changes with respect to the output quantity change.

Marginal Costs

The added cost that comes from producing an additional unit of a product or service.

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