Examlex
A popular adage in real estate is that property value is all about "location, location, location." However, for most property types in nonresidential realms, nonlocational requirements are equally or even more important. All of the following are examples of nonlocational factors EXCEPT:
Marginal Cost
A rise in the cumulative expenses associated with the production of an extra unit.
Economic Rent
Extra income earned by a factor of production due to its limited supply or unique properties, over and above its opportunity cost.
Output Tax
A tax levied on the quantity of production or output generated by a company, as opposed to income or profit.
Perfectly Elastic
An economic term describing a situation where the quantity demanded or supplied changes infinitely in response to any change in price.
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