If All of the Returns to a Resource Are in the Form

question 2

Multiple Choice

If all of the returns to a resource are in the form of economic rent,

• A)the price of that resource is determined exclusively by supply
• B)the price of that resource is determined exclusively by demand
• C)the price and quantity of that resource are determined exclusively by supply
• D)the price and quantity of that resource are determined exclusively by demand
• E)the equilibrium price is zero

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Definitions:

Unemployed

The status of an individual who is capable of working and is seeking work but is unable to find employment.

SES

Abbreviation for Socioeconomic Status, a measure of an individual's or family's economic and social position compared to others, based on income, education, and occupation.

Drowning

A condition of suffocation and potential death caused by inhalation of water or other liquid, leading to respiratory impairment.

Obesity

A condition characterized by excessive body fat that increases the risk of health problems.