Question about economic rent

Reference no: EM1375765

A major city just doubled the yearly fee for hot dog push carts that had exclusive rights to a spot just south of big museum of art to $288,000...why would anyone pay this much for a push cart license? Who is obtaining the economic rent for the lucrative push cart location? How much economic profit is the push cart owner most likely earning?

Reference no: EM1375765

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Question about economic rent : A big city just doubled the yearly fee for hot dog push carts that had exclusive rights to a spot just south of big museum of art to $288,000

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