2. Explain why economic rent is a surplus payment when viewed by the economy as a whole...

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2. Explain why economic rent is a surplus payment when viewed by the economy as a whole but a cost of production from the standpoint of individual firms and industries.

Explain: “Land rent performs no ‘incentive function’ for the overall economy.” LO18.1

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Microeconomics Principles, Problems, And Policies

ISBN: 9781259915727

21st Edition

Authors: Campbell McConnell

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Question Posted: Sep 28, 2024 12:00 PM

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3. How does Henry Georges proposal for a single tax on land relate to the elasticity of the supply of land? Why are there so few remaining advocates of Georges proposal? LO18.1
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2. Explain why economic rent is a surplus payment when viewed by the economy as a whole...

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Microeconomics Principles, Problems, And Policies

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