If the Supply Curve for a Factor Is Perfectly Elastic

question 34

Multiple Choice

If the supply curve for a factor is perfectly elastic, the payments to the factor are

• A) partly economic rent and partly transfer earnings.
• B) wholly economic rent.
• C) wholly transfer earnings.
• D) an unnecessary tax on the factor.
• E) neither economic rent nor transfer earnings.

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Definitions:

Unwanted Responses

Behavior or reactions that are involuntary, undesirable, or inappropriate in a given context.

Free Association

A psychoanalytic technique in which patients are encouraged to convey any thoughts that come to mind without censorship to uncover unconscious thoughts and feelings.

Unconditional Positive Regard

An attitude of total acceptance and support toward another person, regardless of what they say or do, as conceptualized by psychologist Carl Rogers.

Client-Centered

A therapeutic approach developed by Carl Rogers emphasizing an individual's capacity for self-direction and understanding of their own development.