As for the cost of production of an individual farmer the rent paid by him ........

Economics- Phase (I & II) Consumption Function

Download Solution PDF

As for the cost of production of an individual farmer, the rent paid by him

Enters into the price of his product

Does not enter into price of his product

Is unjustified

None of the above

छोटे Courses बड़े Results

Master Consumption Function

Prepare through Micro-courses

Try Now

Explanation:

As for the cost of production of an individual farmer, the rent paid by him enters into the price of his product. The classical political economists found value to be determined in production; since most of the cost of production could be reduced to labor, this approach was refined into the Labor Theory of Value.

Report error

Submit Error