Multiple Choice
Economic rent is a concept that can be applied
A) only to land, as that is the only resource that is in limited supply.
B) only to land and natural talent.
C) to any factor of production that is fixed in supply.
D) to any resource or factor of production that has a supply curve with a positive (upward) slope.
Correct Answer:
Verified
Correct Answer:
Verified
Q23: Economic profits equal<br>A) accounting profits.<br>B) accounting profits
Q24: The concept of economic rent is associated
Q25: The opportunity cost of owner-provided labor is
Q26: The greater the risk of nonrepayment of
Q27: Economic profit can be calculated as<br>A) total
Q29: If, as an entrepreneur, I am earning
Q30: Interest is paid to<br>A) all holders of
Q31: A shareholder in a corporation<br>A) may not
Q32: Economic rent serves<br>A) a descriptive function by
Q33: A firm is making zero economic profits.