Jorge is debating whether to concentrate on playing professional football or professional baseball. He is offered $6 million a year to play baseball and $8 million a year to play football. If he chooses to play football
A) the economic rent in his salary is $8 million.
B) the economic rent in his salary is $6 million.
C) the economic rent in his salary is $2 million.
D) the economic rent in his salary is $14 million.
Answer: C
Economics
You might also like to view...
Suppose s = 0.18, Y = 4000, K = 6200, n = 0.02, and d = 0.08. This makes national saving ________ than steady-state investment, so that the amount of capital per worker is ________
A) greater, rising B) greater, falling C) less, rising D) less, falling
Economics
A decrease in the price of pizza will lead to a(n):
A. increase in the demand for pizza. B. increase in the quantity of pizza demanded. C. decrease in the number of consumers. D. decrease in the quantity of pizza demanded.
Economics