Multiple Choice
The supply of factor X is perfectly inelastic and it receives a price of $100. It follows that
A) the entire $100 is pure economic rent.
B) part of the $100 is pure economic rent.
C) factor X does not receive any economic rent.
D) any payment above the price of $100 is economic rent.
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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