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Title: The concept of economic rent is associated with the British economist David Ricardo (1772-1823). ... Post by: jujubee600 on Mar 3, 2019 The concept of economic rent is associated with the British economist David Ricardo (1772-1823). Ricardo analyzed economic rent for land. Which of the following is FALSE with respect to determining land rent?
• The supply curve for land is vertical (perfectly inelastic). • Ricardo assumed the quantity of land in a country is fixed. • Rent is payment for a resource above its opportunity cost. • Payment for a resource below its opportunity cost is rent. Title: The concept of economic rent is associated with the British economist David Ricardo (1772-1823). ... Post by: jaded 7 on Mar 3, 2019 Content hidden
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