Which of the following is a typical example of a fixed cost of production in a business firm?

Institutions and laws, such as patent protection, that foster innovations lead to economic growth because they

A) give businesses loans to buy new machinery. B) give confidence to consumers that the products they buy are safe. C) allow the government control of the innovations. D) give confidence to inventors that they will profit from their innovation.

Under an infinitely inelastic supply of land, the economic rents to land ________ if the price of land doubles

A) increase by less than 100% B) double C) increase by more than 100% D) none of the above