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Microeconomics II
book

Microeconomics II

by D.N. Dwivedi
August 2011
Intermediate to advanced content levelIntermediate to advanced
368 pages
14h 51m
English
Pearson India
Content preview from Microeconomics II
Theory of Rent 211
If the value of capital and labour used in cultivation equals the value of 70 quintals of wheat, the land
of grade C will not bear any rent. Land C is, therefore, called ‘marginal land’ or ‘no-rent land’. According to
Ricardo, the land of grade C will remain a no-rent land until cultivation is extended to land of grade D, if any.
In case of intensive cultivation, as Ricardo observed, it is oen found that before land B is brought under
cultivation, additional capital is employed to increase productivity of land A. But, it is quite likely that when
capital expenditure on land A is doubled, output is not doubled. It may yie ...
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Publisher Resources

ISBN: 9788131797655