Economy, asked by saritarai8116, 6 months ago

explain how scarcity rent arises?

Answers

Answered by hs2876511

1

Answer:

Scarcity rent refers to the price paid for the use of the homogeneous land when its supply is limited in relation to demand. ... In this way, rent will arise when supply of land is inelastic. Prof. Ricardo opined that land was beneficial but it was also scarce.

Answered by tiwarisriram457

0

Answer:

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Explanation:

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