The existence of wage-related rent
a. is explained by the fact that people have different opportunity costs
b. is explained by the fact that some people who work also own land
c. indicates that wage rates can be higher than rents
d. is a contradiction because workers' incomes derive from labor
e. result from the different productivities of workers
A
Economics
You might also like to view...
In the figure above, which of the following represents a real flow?
A) Expenditures on real estate services B) Profit C) Capital D) Wages E) Both B and D
Economics
If the shut-down rule, p < AVC, is the same in the short run and the long run, explain why the shut-down prices may be different
What will be an ideal response?
Economics