Economy, asked by trixie97, 4 months ago

what isbscarcity Rent ? explain how it arises​

Answers

Answered by ItzVittesh95
2

Scarcity rent is the cost of "using up" a finite resource because benefits of the extracted resource are unavailable to future generations. Efficiency is achieved when the resource price--the benefit society is willing to pay for the resource today--is equal to the sum of marginal extraction cost and scarcity rent

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