There is always some economic rent whenever the:
A) demand for a factor is downward sloping.
B) supply of a factor is upward sloping.
C) supply and demand intersect.
D) supply of a factor is horizontal.
B
You might also like to view...
When the price of sausages is $2.00 per pound, consumers buy 50 pounds of fish. When the price of sausages rises to $3.00 per pound, 60 pounds of fish are purchased. The cross price elasticity of demand between sausages and fish is approximately equal to
A) +0.04. B) -0.45. C) +2.20. D) +0.45.
According to a study by an economist at the Federal Reserve Bank of Minneapolis, during the middle 1980s, managers at iron mines in Canada and the United States increased output per hour worked by 100 percent through changes in work rules that increased workers' effort per hour worked and increased the efficiency of workers' effort. This increase in output per hour worked is due to______________________________
Fill in the blank(s) with the appropriate word(s).