22 lines
838 B
Markdown
22 lines
838 B
Markdown
<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-1-chapter-11 -->
|
|
|
|
# Monopoly Price of Land
|
|
|
|
## Definition
|
|
|
|
The price paid for the use of land that exceeds what would be paid under competitive conditions, arising from the landlord's exclusive control over a particular piece of land. This price is determined by what the tenant can afford to pay rather than by the cost of providing the land.
|
|
|
|
## Source Chapter
|
|
|
|
Book I, Chapter 11
|
|
|
|
## Context
|
|
|
|
Smith argues that rent is essentially a monopoly price because it is not determined by the cost of providing the land but by what the tenant can afford to pay based on the land's productive capacity. This concept is crucial for understanding how rent differs from other forms of economic returns.
|
|
|
|
## Economic Domain
|
|
|
|
Distribution
|
|
|
|
---
|