The income effect is the concept that changes in consumption of a good result from changes in purchasing power

In the industry of phone apps, end users are

A) advertisers only. B) app users only. C) both advertisers and app users. D) no one.

To an individual firm or landowner, land rents do not appear to be a surplus because:

A. Land is a productive resource, like the other resources B. A given parcel of land has alternative uses, and rent represents a real cost of production C. They do not understand that the supply of land, in total, is perfectly inelastic D. Landowners are, politically and economically, a powerful and well organized group