Land rents are high in both New York City and in London. It follows that
A) because land rents are high in both cities, prices (of goods and services) will be high in both cities.
B) because land rents are high in both cities, we can expect prices (of goods and services) to be low in order to counter the high land rents.
C) landowners must be more greedy in New York City and London than in cities or towns where land rents are lower.
D) b and c
E) none of the above
Correct Answer:
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