Which of the following is true about location rents?
a. They are illegal in many inner-city locations.
b. They are found by taking the shaded area below the transport cost curve.
c. They arise from differential costs in transporting food to the marketplace.
d. They arise when the MRP is lower than the cost of transporting food to the marketplace
e. They would not exist if all land were of similar quality.
C
Economics
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A worker's stock of knowledge is known as
A) monetary capital. B) human capital. C) physical capital. D) financial capital.
Economics
If income is distributed equally in a society, the poorest fifth of the population receives
a. 5 percent of the total income. b. one-fifth as much as the richest fifth of the population. c. 20 percent of society's total income. d. 50 percent of society's total income.
Economics