There Is Always Some Economic Rent Whenever

question 79

Multiple Choice

There is always some economic rent whenever

• A)demand for a factor is downward sloping.
• B)supply of a factor is upward sloping.
• C)supply and demand intersect.
• D)supply of a factor is horizontal.

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Definitions:

Social Interaction

Involves people communicating face-to-face and acting and reacting in relation to other people. It is structured around norms, role, and statuses.

Authority Structure

The way in which power and authority are distributed and exercised within an organization or society.

Artificial

Something made or produced by human beings rather than occurring naturally, typically as a copy of something natural.

Obey

To follow the directives or commands of someone with authority or a set of rules or laws.