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Find an equation for the ellipse described. Graph the equation.
-Center at (-2, 4) ; focus at (-8, 4) ; contains the point (-10, 4)
Pure Rent
Pure Rent refers to the income earned from the use of land or other natural resources when supply is perfectly inelastic.
Fixed Supply
A situation where the quantity of a good available is constant and does not change in response to price changes.
One-Of-A-Kind
Unique, without any identical counterpart.
Pure Rent
Payment to a factor of production (land, specifically) in excess of what is needed to keep it in its current use.
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