Economic rent is the sum of actual earning and transfer earning

Graphically, a firm's profit is the area of marginal revenue minus the area of marginal cost

a. True b. False Indicate whether the statement is true or false

Governments can grant private property rights over resources that were previously viewed as public, such as fish or elephants. Why would governments want to do so?

a. to prevent overuse b. to decrease taxes c. to fight poverty d. to increase consumption