Chapter
Objectives
•
What
is
land?
•
Economic
rent
•
Are prices high because rents
high because prices are high?
are
high,
or
are
rents
•
What
is
capital?
•
How
is
the
interest
rate
determined?
•
The
net
productivity
of
capital
•
The
capitalization
of
assets
•
The
present
value
of
future
income
•
How
are
profits
determined?
•
Theories
of
profit
Copyright
2002 by The McGrawHill Companies, Inc.
All rights reserved.
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