The equilibrium rent for marginal land
a. equals zero.
b. depends on the supply and demand of land.
c. exceeds the opportunity cost of the land.
d. is always greater than the equilibrium rent for nonmarginal land.
a
Economics
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The above figure shows the U.S. market for wheat. With international trade, U.S. consumers buy ________ tons of wheat and U.S. producers produce ________ tons of wheat
A) 500,000; 500,000 B) 300,000; 500,000 C) 300,000; 700,000 D) 700,000; 300,000 E) 500,000; 700,000
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The concept of absolute poverty states that anyone who falls too far behind the average income should be considered poor.
Answer the following statement true (T) or false (F)
Economics