Question

Show how economic rent theory is superior to Ricardo's rent theory.​

Answer 1

Answer:

If the superior land will not support the population, recourse must be made to inferior lands and the produce is, thus, raised at different costs. The differential advantage of the superior land over the inferior gives rise to Economic Rent. ... This is known as Ricardo's Theory of Rent.

Explanation:

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Answer 2

Answer:

The differential advantage of the superior land over the inferior gives rise to Economic Rent. ... According to Ricardo, rent is that portion of the produce of the earth, which is paid to the landlord for the original and indestructible powers of the soil.

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