Is greengenes applying the leftover principle incorrectly

Reference no: EM13242523

Suppose that Mr. Greengenes, a farmer and genetic engineer, develops a new method for growing corn that decreases the cost of growing corn by $300 per acre. Greengenes' landlord rejoices, saying, "According to the leftover principle, you will pay me $300 more in rent." Is the landlord correct? If not, is he applying the leftover principle incorrectly, or is the principle wrong?

Reference no: EM13242523

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