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MRP of Land
Marginal Revenue Product of Land denotes the additional revenue generated from the utilization of an additional unit of land, underpinning its value in production.
Supply of Land
The total quantity of available land or real estate, which is inherently fixed but can vary in usability and value due to location, zoning, and development.
Marginal Land
Land that produces little yield or economic value due to poor quality, location, or other factors, making it the least productive for agricultural use.
Rents
Payments made periodically by a tenant to a landlord in exchange for the use of land, a building, or other property.
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