Rent the Effect of a Natural Monopoly. § 2. No Land can pay Rent except Land of such Quality or Situation as exists in less Quantity than the Demand. § 3. The Rent of Land is the Excess of its Return above the Return to the worst Land in Cultivation. § 4. -Or to the Capital employed in the least advantageous Circumstances. § 5. Opposing Views of the Law of Rent. § 6. Rent does not enter into the Cost of Production of Agricultural Produce. Book III. Exchange. Chapter I. Of Value. § 1. Definitions of Value in Use, Exchange Value, and Price. § 2. Conditions of Value: Utility, Difficulty of Attainment, and Transferableness. § 3. Commodities limited in Quantity by the law of Demand and Supply: General working of this Law. § 4. Miscellaneous Cases falling under this Law. § 5. Commodities which are Susceptible of Indefinite Multiplication without Increase of Cost. Law of their Value Cost of Production. § 6. The Value of these Commodities confirm, in the long run, to their Cost of Production through the operation of Demand and Supply. Chapter II. Ultimate Analysis Of Cost Of Production. § 1. Of Labor, the principal Element in Cost of Production. § 2. Wages affect Values, only if different in different employments; "non-competing groups." § 3. Profits an element in Cost of Production. § 4. Cost of Production properly represented by sacrifice, or cost, to the Laborer as well as to the Capitalist; the relation of this conception to the Cost of Labor. § 5. When profits vary from Employment to Employment, or are spread over unequal lengths of Time, they affect Values accordingly. § 6. Occasional Elements in Cost of Production; taxes and ground-rent. Chapter III. Of Rent, In Its Relation To Value. § 1. Commodities which are susceptible of indefinite Multiplication, but not without increase of Cost. Law of their Value, Cost of Production in the most unfavorable existing circumstances. § 2. Such commodities, when Produced in circumstances more favorable, yield a Rent equal to the difference of Cost. § 3. Rent of Mines and Fisheries and ground-rent of Buildings, and cases of gain analogous to Rent. § 4. Résumé of the laws of value of each of the three classes of commodities. Chapter IV. Of Money. § 1. The three functions of Money-a Common Denominator of Value, a Medium of Exchange, a "Standard of Value". § 2. Gold and Silver, why fitted for those purposes. § 3. Money a mere contrivance for facilitating exchanges, which does not affect the laws of value. Chapter V. Of The Value Of Money, As Dependent On Demand And Supply. § 1. Value of Money, an ambiguous expression. § 2. The Value of Money depends on its quantity. § 3. -Together with the Rapidity of Circulation. § 4. Explanations and Limitations of this Principle. Chapter VI. Of The Value Of Money, As Dependent On Cost Of Production. § 1. The value of Money, in a state of Freedom, conforms to the value of the Bullion contained in it. § 2. -Which is determined by the cost of production. § 3.