Answer, Explain and Discuss the following statements

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1. Discuss Ricardo's labor theory of value. 2. Explain the existence of economic rent, marginal rent, and the law of diminishing returns. 3. Analyze the Ricardian doctrine of comparative advantage in trade. 4. State the law of comparative advantage. 5. Identify the conditions for Mill's "ideal stationary state ". 6. Elaborate on Mill's ideas on utilitarianism