Firms That Employ Exceptionally Productive Resources

question 81

Multiple Choice

Firms that employ exceptionally productive resources

• A)have lower costs than other firms in the industry and are able to earn positive economic profit in the long run.
• B)earn zero economic profit.
• C)will typically have to pay the exceptional resource economic rent equal to the reduction in cost due to employing the exceptionally productive resource.
• D)both a and b
• E)both b and c

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Definitions:

Communication

The process of exchanging information, ideas, or feelings between individuals or groups, typically through speaking, writing, or using some other medium.

Environmental Stimuli

External factors or changes in the environment that can evoke a physical or behavioral response.

Information Overload

A state where one is exposed to more information than they can process, leading to difficulty in understanding or making decisions.

Receiver

In the context of communication, the person or entity who receives and interprets a message sent from a sender.