A simple generalization of the singular rent model

Biao Huang

Metroeconomica, 2018, vol. 69, issue 1, 109-124

Abstract: Salvadori discovered a new variety of rent, called singular rent, when requirements are functions of income distribution. This note makes a simple generalization of the singular rent model by introducing many agricultural processes. Hence the problem of choice of technique arises. With respect to singular rent alone, it is shown that there may exist more than one cost†minimizing technique even though joint production is set aside, and there may be no cost†minimizing technique even though all techniques are feasible. However, in the latter case, at least one system determining intensive rent is feasible and cost†minimizing.

Date: 2018
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