Explore BrainMass
Share

Economic Rent

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

A major city just doubled the annual fee for hot dog push carts that had exclusive rights to a spot just south of a major museum of art to $288,000...why would anyone pay this much for a push cart license? Who is obtaining the economic rent for the lucrative push cart location? How much economic profit is the push cart owner most likely earning?

© BrainMass Inc. brainmass.com October 24, 2018, 9:40 pm ad1c9bdddf
https://brainmass.com/economics/economic-systems/economic-rent-133538

Solution Preview

People would pay this much for a push cart license because they are expecting a much higher economic profit ...

Solution Summary

The solution answers the question below in great detail.

$2.19
See Also This Related BrainMass Solution

Synthesis of an Article on Economics

A synthesis is a summary of the important points in an article. For this synthesis, the response must include the how and why this information is important to economics.

The attached article is the one being used in this question.

View Full Posting Details