Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Economic Rent
- Economic rent is difference between what firms are willing to pay for the input less the minimum amount required to obtain it.
* An Example
- There are two firms A & B
- Both are having their own land
- A is located on the river which lowers A's shipping cost by $10,000 as compared to B - The demand for A's river location will increase price of A's land to $10,000
- Economic rent = $10,000
- Economic rent increases
- Economic profit of A = 0
Firms Earn Zero Profit in Long-Run Equilibrium * With the fixed input such as a unique location, difference between cost of production (LAC = 7) and price ($10) is value or opportunity cost of the input and represents economic rent from the input.
* If opportunity cost of input (rent) is not taken into consideration it may appear that the economic profits exist in long run.
Export Entrepreneurship: This need be developed by providing necessary facilities and making export an attractive and profitable business proposition. In this connection, it
how do oligopolistic market and monopolistic competition react to change in demand and supply ?
In June 2009, Textile co. (a domestically located firm) purchased 1000 yards of cloth from India (a foreign country) for $1000. Textile co. hired Elizabeth and paid her $5000 to s
explain the main criteria for classifying firms into industries.which criteria serve the better and why?
Problem 1: a. Describe the concept of opportunity cost, using the production possibility curve. b. What are the fundamental problems of an economy? Describe how the command
describe engineering cost theory in detail
Q. What is Benefits transfer? The process of transferring benefit estimates from past valuation studies to the present study, in order to reduce appraisal costs. The validity
The Healthy Spring Water company sells bottled water for offices / homes. The price of the water is $20 per 10 gallon bottle and the company currently sells 2,000 bottles per day.
Manners of reaching to someone's place with a present of anything like flowers, chocolates, etc. In U.S., it's not feel good to give flowers to women by men. If a man giving some g
Environmental pollution may be eloborate as the contamination of the environment, with harmful wastes arising mainly from human activities. All these activities release certain m
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd