When considering the factor distribution of income, into whose income would corporate profits be included?

Which of the following is not a condition for perfect competition?

(A) Many buyers and sellers participate in the market. (B) Sellers are able to enter and exit the market freely. (C) Sellers offer a wide variety of products. (D) Buyers and sellers are well informed about products.

Suppose you have a Cobb-Douglas function with a capital elasticity of output (á) of 0.28 and a labor elasticity of output (â) of 0.84 . What statement is correct?

a. There are increasing returns to scale b. If the amount of labor input (L) is increased by 1%, the output will increase by 0.84% c. If the amount of capital input (K) is decreased by 1%, the output will decrease by 0.28% d. The sum of the exponents in the Cobb-Douglas function is 1.12. e. All of the above