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RESIDUAL RENT [1 record]

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Record 1 1981-01-27

English

Subject field(s)
  • Economics
OBS

The cost of guns is the forgone (or opportunity) cost of not producing butter with the same resources; gun cost can be measured in terms of sacrificed butter even if every factor were in inelastic supply, involving no disutility and involving price-determined or "residual" rents that are quite unnecessary to elicit the factor's supply and effort.

French

Domaine(s)
  • Économique

Spanish

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