Which of the Following Statements Is False

question 2

Multiple Choice

Which of the following statements is false?

• A)Competing for artificial rents is socially unproductive; competing for real rents is not.
• B)If the production of good X generates real rents, then in the process of competing for these real rents, it would not be unusual for the supply of good X to rise.
• C)Individuals and firms will compete for real rents, but not for artificial rents.
• D)An artificial rent is an economic rent that would not exist without government.

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Definitions:

Total-Cost Curve

A graphical depiction showing the total cost of producing different levels of output, illustrating the relationship between production volume and total costs.

Production Possibilities Frontier

A graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.

Agreeableness

The trait of being good-natured, cooperative, and trusting.

Big Five

A popular model in personality psychology referring to the five broad traits used to describe human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.