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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
None of the above
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.
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