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Suppose a farmer in a perfectly competitive agricultural industry rents land that is uniquely productive in the production of a certain crop. In the long
Suppose a farmer in a perfectly competitive agricultural industry rents land that is uniquely productive in the production of a certain crop. In the long run,
A the owner of the land receives economic rent while the farmer earns zero economic profit.
B both the farmer and the owner of the land receive economic rent.
C neither the farmer nor the owner of the land receive economic rent.
D the owner of the land earns zero economic profit while the farmer receives economic rent.
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