What natural resources are completely fixed in total supply

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An economist's use of the term "rent" differs from everyday usage in that in the economist's understanding, economic rent is the price paid for the use of all resources that are completely variable in supply. includes any security deposit that must be paid. cannot be used to determine profit. is the price paid for the use of land and other natural resources that are completely fixed in total supply.

Reference no: EM13214384

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