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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

What does it mean to say that land rent is price determined, not price determining?

To determine

The price determination and land rent.

Explanation

The price of a land is determined by the demand for the land. The demand for a land depends on various factors such as climatic conditions, availability of water, quality of land, living conditions, road facilities, and so on...

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