Competition among rent seekers results in

A) higher rents.
B) firms earning normal profits.
C) firms setting lower prices.
D) lower costs.
E) all competing firms earning an economic profit.

B

Economics

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Refer to Figure 4.2. A shift from D2 to D1 will result from which of the following?

A) an increase in expected future profits B) an increase in net exports C) an increase in corporate taxes D) a decrease in tax credits for savings

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A particular music store, Discs-R-Us, sells over 3,000 different compact disks. Pat's opportunity cost of choosing to purchase a compact disk by Pearl Jam

a. is zero if he does not like any other compact disk b. is how much he would have enjoyed his second-favorite compact disk c. depends on the compact disks not sold by the store d. is negative e. is how much he would have enjoyed a compact disk by Vanilla Ice

Economics