Store rents are high in expensive neighborhoods because _______________________.

Store Rents

The cost charged for leasing retail space in buildings or shopping centers, which can vary widely depending on location, size, and market demand.

Expensive Neighborhoods

Areas or localities where the cost of living, including housing, is significantly higher than the average.

Describe the concept of economic rent and identify the determinants that influence it.
Clarify the notion of derived demand for land and its subsequent impacts.

Verified Answer

Final Answer :

people,anxious to open stores that wi ll do a lot of business,bid up the rents

Learning Objectives

Describe the concept of economic rent and identify the determinants that influence it.
Clarify the notion of derived demand for land and its subsequent impacts.