A change in the supply of one factor of production
a. can alter the earnings of all of the other factors.
b. alters the earnings of capital and labor but not land.
c. will not change the marginal productivities of other factors but may change their prices.
d. alters the earnings of that factor only.
a
Economics
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What is one kind of monopoly that the U.S. government generally permits?
a. the telephone company b. professional sports leagues c. low-price gasoline d. certain kinds of medications
Economics
If a monopoly situation arises from a perfectly competitive market, the portion of producer surplus that increases in a monopoly is transferred from the perfectly competitive market's
A) fixed cost. B) long-run positive economic profit. C) deadweight loss. D) consumer surplus.
Economics