The return to any factor of production that is in fixed supply is

A. producer surplus.
B. factor surplus.
C. pure profit.
D. pure rent.

Answer: D

Economics

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Which of the following is true in an ultimatum game if more money is considered to be better than less?

A) The equilibrium outcome in an ultimatum game is equitable. B) The equilibrium outcome in an ultimatum game is socially efficient. C) The equilibrium in an ultimatum game is always a dominant strategy equilibrium. D) There is no unique equilibrium in an ultimatum game.

Economics

Which of the following is NOT an alleged "unrealistic" assumption that proponents of behavioral economics suggest are commonly utilized in traditional economic models based on the rationality assumption?

A) unbounded selfishness B) unbounded rationality C) unbounded will power D) unbounded resources

Economics