-Refer to the above figure.Suppose demand is $\mathrm { D } _ { 2 }$ and then increases to $\mathrm { D } _ { 3 }$
)The change in economic rent is

Question

Quizplus · Accepted Answer

The change in economic rent is the area CIHF. This is because the increase in demand from D2 to D3 has led to an increase in the equilibrium price from P2 to P3. As a result, landowners are now able to charge a higher rent for their land, which is represented by the area CIHF.

-Refer to the Above Figure D2\mathrm { D } _ { 2 }D2​

-Refer to the Above Figure $\mathrm { D } _ { 2 }$