The amount of this economic rent is calculated as [...].
(P2 – P1) × Q1
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Economic rent to the business that supplies the item.
When demand increases from Demand 1 to Demand 2 , price rises to P 2 , where at this higher price level economic rent is created.
The amount of this economic rent is calculated as <span>(P 2 – P 1 ) × Q 1 . The firm has not done anything internally to merit this special reward: It benefits from an increase in demand in conjunction with a supply curve that does not fully adjust with an in
last interval [days]
repetition number in this series
scheduled repetition interval
last repetition or drill
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