The aggregate economic rent received by a productive resource will decrease, ceteris paribus, whenever the:
A. Demand for the resource increases
B. Price of the resource decreases
C. Demand for the resource decreases
D. Supply curve shifts to the right
C. Demand for the resource decreases
Economics
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A price ceiling
A) is an illegal price. B) is the price that exists in a black market. C) is the maximum price that can legally be charged. D) Both answers A and B are correct. E) Both answers B and C are correct.
Economics
Along a straight line, the value of y is always equal to the value of x. The slope of the line is
A) -1. B) 0. C) 1. D) infinite.
Economics