1.

 Give three main features of Ricardian Theory of Rent.

Answer»

The three important features of Ricardian theory of rent are the following: 

(i) Rent is paid to land only. 

(ii) Rent is price paid for the use of original and indestructible powers of the soil. 

(iii) Rent is a differential surplus—the difference between the produce of the superior lands and marginal lands.



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