Question: Which statement is true? a) All land has the same economic value. b) The most important factor affecting rent is location. c) The economic value

Which statement is true?

a) All land has the same economic value.

b) The most important factor affecting rent is location.

c) The economic value of a plot of land is determined exclusively by the raw materials it contains.

d) None of the above.

Step by Step Solution

★★★★★

3.42 Rating (149 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The correct statement is b The most important factor affecting rent is location He... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Microeconomics Questions!

Q:

(c) Identify the products of the following reactions (i) LIAIH, (ii) H'/H2O (i) CH3CH,MgBr (ii) H*/H,O (2marks) a. Name the Grignard reagent used to prepare the two compounds ) RMGB (ii) H*H,0 (i)...

Q:

QUESTION 10 For the problem 7, alter careful evaluation, you have determined that the maximum number of tattoos that you could do in your business is 13 per day, working 50 five-day weeks. More than...

Q:

Hello, I am struggling with this assignment, I am unable to determine the below questions based off the attached 10K. I have also attached a spreadsheet from another answer to a part of this question...

Q:

I'm looking to see if someone can help me with this homework. I have attached the documents that are needed. I'm not good with financial reports. Thanks the home depot annual report 2012 AnnuAl...

Q:

Please complete the assignment and t explain all the ratios that was use and effect. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549...

Q:

Please complete the assignment and t explain all the ratios that was use and effect. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549...

Q:

Please complete the assignment and t explain all the ratios that was use and effect. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549...

Q:

Please complete the assignment and t explain all the ratios that was use and effect. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549...

Q:

31. Entities should evaluate indefinite life intangible assets at last annually for a. Recoverability b. Amortization c. Impairment d. Estimated useful life 32. Which intangible asset should not be...

Q:

The 1H NMR spectra of three isomers with molecular formula C4H9Br are shown here. Which isomer produces which spectrum? a. b. c. (ppm) -frequency o (ppm) frequency 5 2 (ppm) frequency

Q:

Pioneer's preferred stock is selling for $19 in the market and pays a $2.80 annual dividend. If the market's required yield is 13 percent, what is the value of the stock for that investor? Should the...

Q:

o - Know Video Assignments Sinete 1 Required information Use the following Information for the Quick Studies below. ( Algo ) Chan Compary identited the following budgeted data for this year. The...

Q:

Can a company make an offer to buy another company that is for sale without having any real intention of closing the deal? Why? What protection is there for the seller? AppendixLO1

Q:

A Giffen good must be an inferior good, but an inferior good need not be a Giffen good. Explain this statement fully, using the concepts of income and substitution effects.

Q:

Given the OLS estimates for the coefficients and intercept in the basic tier cable demand equation (3), calculate the following: a. Income elasticity of demand for basic service evaluated at the...

Q:

Suppose that there are only five consumers of a software game program. The demand curve for each of the consumers is identical. Will the market demand curve that is obtained by horizontally summing...

Q:

Match each phrase that follows with the term it describes. Clear All a process costing methood that costs each periods equivalent units of work with that period's costs per equivalent unit direct...

Q:

A baseball player agrees to defer $4 million from his salary this year for 8 years at 8 percent compounded annually. Beginning exactly 8 years from today the team will make the first payment of his...

Q:

At what amount should shop fittings be recorded by Milligan and Miles? Record your answer in whole $