Economic rents are useful because
A) they increase the income of the owner.
B) they make it easy to calculate opportunity cost.
C) resources will go to their most efficient use.
D) they increase tax revenue.
C
Economics
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Opportunity costs arise due to
a. Resource scarcity b. Interest rates c. Limited wants d. Preferences
Economics
Suppose a market basket of goods and services costs $1,000 in the base year and the consumer price index (CPI) is currently 110 . This indicates the price of the market basket of goods and services is now
a. $110. b. $1,000. c. $1,100. d. $1,225.
Economics