Industrial agglomeration
A) describes geographical clusters of industries that choose to locate close to a resource that they all use.
B) leads to lower rents.
C) describes geographical clusters of firms within an industry that choose to locate close to one another.
D) is illegal in the United States.
Correct Answer:
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Q5: The economic payment for land is called
A)
Q6: Rent is the payment to owners of
Q7: The price of land is primarily determined
Q8: The discovery of natural gas in the
Q9: Which statement about rent is FALSE?
A) It
Q11: Industrial agglomeration occurs because of which economic
Q12: The marginal product of capital curve has
Q13: The marginal revenue product of capital is
Q14: In economics, firms continue to invest until
Q15: The cost of capital can be measured
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