Answer to Question #136414 in Microeconomics for Yuliya

Question #136414
Explain relation between rent and price.
1
Expert's answer
2020-10-05T13:48:31-0400

 Although the relation between rent and price has been a center of conflict, Ricardian theory affirms that rent is a surplus above cost and hence, it does not enter into price. In other words, rent is price-determined and not price determining.


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