A Resource That Earns Only Economic Rent

question 49

Multiple Choice

A resource that earns only economic rent

• A)cannot be employed in any other line of production, so its opportunity cost is zero
• B)is rental payment for a resource that has already been paid for
• C)is impossible because all resources have an opportunity cost associated with their use
• D)is not fixed in quantity
• E)has a perfectly elastic supply curve

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The process of choosing among multiple options or courses of action in order to achieve organizational or personal objectives.

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