Economic rent and the market for land Consider the market for land in rural Tuscany, the surrounding countryside in central Italy, as compared to the market for land in downtown Florence, a vibrant urban area with hundreds of years of rich history. Because the supply of land in rural Tuscany is , buyers in rural Tuscany pay for use of the land. The rental price of land is much lower in rural Tuscany than in more densely populated areas like downtown Florence. One possible explanation for this rent difference is that highly productive land is in low . Some entrepreneurs decide to build parking lots in downtown Florence. The supply curve for land to be used for parking lots is .

Explain the relationship between consumers and producers in economic growth and activity

The year is 2278, and the starship enterprise is running low on dilithium crystals, which are used to regulate the matter-antimatter reactions that propel the ship across the universe. without the crystals, space-time travel is not possible. if there is only one known source of dilithium crystals, the necessary conditions for a monopoly are met. part 2 (1 point)see hint if the crystals are government owned or government regulated, and the government wants to create the greatest welfare for society, then it should set the price choose one or more: a. so only the rich can afford space-time travel. b. at the profit-maximizing price. c. at the efficient price. d. using the marginal-cost pricing rule. e. so everyone can afford space-time travel. f. at the monopoly price.

Which of the following represents an unlimited queue? a. toll booth serving automobiles on the interstateb. drive through lane at a fast food restaurantc. faculty office with limited seating during office hoursd. restaurant with no outside seating and limited capacity due to fire departments restrictionse. small barbershop with only 5 chairs for waiting customers