What happened to transfer earning and economic rent if land has only a single use .using a graphic your answer?

If land has only a single use, it means that it can only be utilized for one specific purpose, such as agriculture or residential purposes. In such a scenario, the transfer earnings and economic rent associated with the land would be affected.

Transfer earnings refer to the minimum amount of income required to keep a resource in its current use. In the case of land with a single use, the transfer earnings would be equal to the economic rent. Economic rent, on the other hand, is the surplus income earned from a resource over and above its transfer earnings.

In a graphic representation, we can illustrate this scenario as follows:

[GRAPHIC]

The horizontal axis represents the quantity of land, while the vertical axis represents the income or value associated with the land. The curve labeled "Transfer Earnings" represents the minimum income required to keep the land in its current use. In the case of land with a single use, this curve would coincide with the curve labeled "Economic Rent."

Since the land has only one use, there would be no surplus income or economic rent generated beyond the transfer earnings. Therefore, the economic rent curve would be flat and coincide with the transfer earnings curve throughout.

Overall, when land has only a single use, the transfer earnings and economic rent would be the same, resulting in a flat economic rent curve.