Directions : Analyze and refer to the images below. Afterwards, answer the following1. Define and enumerate the types of rent . Give example also on each type of rent . Determinantsof Renta. Land located in densely populatedareas commands higher demand thanthose in sparsely inhabited sites.13b. Fertility is a determinant; in agriculturallands, fertility reduces the cost ofproduction. c. Location or accessibility totransportationtransportation costs.and markets reducesd. Peace and order situation in aparticular area is far from desirable, landmay merit lower or even no rent at all.

Production process requires the employment of various factors of production. These factors of…

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1. Define and enumerate the types of rent . Give example also on each type of rent .

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 4SCQ: What are the similarities between a consumers budget constraint and societys production...

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Question

Directions : Analyze and refer to the images below. Afterwards, answer the following
1. Define and enumerate the types of rent . Give example also on each type of rent .

Determinants
of Rent
a. Land located in densely populated
areas commands higher demand than
those in sparsely inhabited sites.
13
b. Fertility is a determinant; in agricultural
lands, fertility reduces the cost of
production.

c. Location or accessibility to
transportation
transportation costs.
and markets reduces
d. Peace and order situation in a
particular area is far from desirable, land
may merit lower or even no rent at all.

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