(Answered) Consider a simple economy that has a fixed amount of land

Management Studies

Consider a simple economy that has a fixed amount of land, and where the only use of land is for housing. It is assumed that housing units can be produced at constant marginal cost, and that these units can be sacked. A given parcel could therefore support all the units of housing demanded in the community. Assume there are 10 parcels of land, each owned by a different individual.

(a) What is the marginal productivity of land in the production of housing? Assuming there is competition in the supply of housing, what is the competitive rental payment to land?

(b) In the case of several owners and competition in the supply of housing units, would a parcel of land sell for positive price?

View complete question

Business Management, Management Studies

Category:- Business Management
Reference No.:- M91961156
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Management

A homeless veteran named johnny bobbitt who spend his last

A homeless veteran named Johnny Bobbitt, who spend his last 20 dollars for a tank of gas so that Kate McClure could get. She started a campaign account set up by her and her boyfriend for Mr. Bobbitt. It went viral and h ...

Given a list of numbers l a value x is said to be a

Given a list of numbers L, a value x is said to be a majority value if the value of over half the elements in L is x; in other words, if L has n elements and nx is the number of elements in L with value x, then x is a ma ...

Examine the main different types of values that a company

Examine the main different types of values that a company could seek to maximize. Give your opinion as to whether or not a company should maximize its profits or social good, when these two (2) are in conflict. Provide a ...

Some observers think the sony playstation attack was

Some observers think the Sony PlayStation attack was serious while the Ashley Madison hack was relatively insignificant. Do you agree?

Last week you explored various recruitment methods be

Last week you explored various recruitment methods. be considering three candidates for the position of administrative assistant at your company. Prior to beginning work on this discussion, review the article What Are th ...

How has globalization and the international environment

How has globalization and the international environment affected companies that you deal with(your employer, places you shop at, etc) What are the positives and negatives of these effects? Are there ethical consideration ...

How can a organisation move forward in the community to be

How can a organisation move forward in the community to be a leader in diversity. Discuss: - How you'll develop work plans to incorporate diverse workforce members into the plan. - Why you would make changes to work plan ...

Determine whether or not the following claim is true for

Determine whether or not the following claim is true for all regular expressions r1 and r2. The symbol ≡ stands for equivalence regular expressions in the sense that both expressions denote the same language. (a) (r1*)* ...

Describe how the functions of information systems support a

Describe how the functions of information systems support a company. Compare the roles of programmers, systems analysts, information systems managers, the information director (CIO), the security director (CSO), data dir ...

How do you think socratic method works and why do you think

How do you think socratic method works and why do you think it works? When a broad social issue-individual rights, environmental pollution, or child custody-intrudes into our lives and moves from the abstract to the pers ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Management Expert