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Refer to the diagram to the right: Land is the other (fixed) factor of production. Currently the real wage is $30. Calculate the change in
Refer to the diagram to the right: Land is the other (fixed) factor of production. Currently the real wage is $30. Calculate the change in land rents due to a $5 increase in the real wage. A Land rents = $ (Enter your response rounded to the nearest dollar. Be sure to include the minus sign if necessary.)
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