According to the text, in the absence of uncertainty, no one can obtain a profit from the exclusive ownership of a scarce resource, such as a patent or a franchise, because
A) demand curves will be perfectly elastic.
B) marginal cost will equal marginal revenue.
C) profit requires active production rather than static ownership.
D) the cost of retaining ownership will rise to eliminate any profit.
E) the tax on capital gains will eliminate any profit.
D
Economics
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The data in the table above shows the consumption by families in a small (poor) economy. The families consume only salt and bread. The reference base period is 2011. The CPI in 2012 is
A) 118.8 B) 123.1 C) 100. D) 18.8 E) 23.1
Economics
A decline in domestic output would cause a ________ in net exports and a ________ in the exchange rate
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Economics