The rental price of land is
a. the price paid for ownership of the land.
b. the price paid for the flow of services from land over a specified time period.
c. always more than the purchase price.
d. All of the above are correct.
b
You might also like to view...
In economics, which of the following is considered as financial capital?
a. Offices and warehouses b. Stocks and bonds c. Machinery d. Factories e. Equipment
You have read that the free rider problem affects equilibrium in a public good context. Explain how this situation can be modeled as a prisoner's dilemma game.
What will be an ideal response?
The sale of each iPhone in the U.S. counts as an:
A. import, because they are assembled in Mexico. B. export, because they are produced in the U.S. C. export, because they are assembled in China. D. import, because they are assembled in China.
Use the following table, which shows a firm's production, output price, and various quantities of labor (workers) employed, to answer the next question.WorkersTotal Output per DayPrice of Good210$103151041910522106241072510How many workers will the profit-maximizing firm hire if the wage rate is $20 per day?
A. 3 B. 4 C. 5 D. 6