David Ricardo's assumption for economic rents for land was based on

Question

Quizplus · Accepted Answer

Ricardo believed that the supply of land was a fixed quantity, meaning that the amount of available land could not be increased. This assumption led him to argue that landowners could charge economic rents for the use of their land, as tenants would be willing to pay extra for the privilege of using a limited resource. Therefore, choice A - the supply of land being a fixed quantity - is the correct answer.

David Ricardo's Assumption for Economic Rents for Land Was Based