Which of the Following Is Not How Economists Describe the Term

question 56

Multiple Choice

Which of the following is not how economists describe the term "economic rent?:

• A) The gains that workers and owners of capital receive from supplying their labor or machinery in factor markets.
• B) The producer surplus in output markets.
• C) The rental price of a factor of production minus the cost of supplying it.
• D) The total revenue that a factor of production earns its owner.

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Definitions:

Intermediate

A term used to describe entities or phenomena that fall in the middle of a specified range or scale, often used in geological contexts to describe rocks or volcanic activities with properties between felsic and mafic.

Main Batholith

A large body of igneous rock formed beneath the Earth's surface by the intrusion and solidification of magma.

Partial Melting

The process where only a portion of a solid mixture melts, resulting in the formation of magma with different composition from the original material.

Subduction

The process by which one tectonic plate moves under another plate and into the mantle, causing volcanic and seismic activity.