Adam Smith depicted rent in the same fashion as Ricardo
Question 4The major substantive features of classical microeconomics, such as Ricardian renttheory or Malthusian population theory, revolved aroundtwo equal quantities of capital and labor.” This definition was given by1.5 out of 1.5 points
Question 5According to the information, if an incremental output of 6 units per worker inputyielded “ordinary profits,” then how many workers would be employed on land A?
Question 6According to the following information, if the price of agricultural produce weresufficient to have three workers to be employed on a land, what would be the rent forthe first worker?OneworkerTwoworkersThreeworkersFourworkersUnit of output12223036
Question 7“… rent is always the difference between th produce obtained by the employment oftwo equal quantities of capital and labor.” This definition was given by1.5 out of 1.5 points0 out of 1.5 points1.5 out of 1.5 points1.5 out of 1.5 points