Which of the Following Statements About Equilibrium Factor- Price Differentials

question 84

Multiple Choice

Which of the following statements about equilibrium factor- price differentials is correct? They

• A)may be caused by differences in the intrinsic qualities of factors.
• B)tend to be self- eliminating.
• C)are unrelated to differences in non- monetary benefits.
• D)are unrelated to acquired differences in factors.
• E)will be eliminated when the allocation of resources is in long- run equilibrium.

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A contractual agreement where one party (the agent) is authorized to act on behalf of another party (the principal) in business transactions, based on expressed consent.

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A legal principle where a person appears to be, and is mistakenly believed to be, authorized to act as an agent for another party, which can bind the apparent principal to contracts or actions taken by the apparent agent.