Suppose that landowners have the power to restrict x , the distance to the edge of the city, in order to increase the land rent they earn. Suppose that, with no restriction, the urban land rent function is given by r = 100 – x , where x is distance in blocks to the CBD. Suppose that agricul- tural land rent rA is equal to 20.

Show the new land-rent curve in your diagram, and indicate the area corresponding to the land-rent loss from the restriction, as well as the additional area showing the land-rent gain.

Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)