Rents represent earnings that
a. exceed marginal cost
b. are less than marginal revenue product
c. are less than what producers would require to supply products
d. exceed opportunity revenue
e. exceed opportunity cost
E
Economics
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In the U.S., the largest share of national income is earned in the form of
a. taxes on production. b. wages and salary. c. interest earned on capital. d. corporate profits.
Economics
What does the Gauss-Markov theorem prove? Without giving mathematical details, explain how the proof proceeds. What is its importance?
What will be an ideal response?
Economics