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Seamus sells office supplies.He recently called on a customer who was trying to select a photo to go on its fall catalogue.The customer wanted to look at the ten photos side-by-side and compare them, but his easel would only hold one at a time.Since the walls of the office are made of cinderblock, it was not possible to paste or tack the photos on the wall.It was a problem that occurred every time a new catalogue was issued.After looking at the problem, Seamus said, "I'll be right back." When he returned, he had a roll of cork and a can of cork glue.He and the business owner turned one wall into a giant bulletin board.In this instance, Seamus acted as a:
Economic Rent
Income earned from a factor of production that exceeds the owner's opportunity cost, often due to unique advantages or monopolistic control.
Economic Rent
The extra income earned by a resource owner simply because of ownership, without contributing additional work or investment.
Major League Baseball
The professional baseball organization that is the oldest of the four major professional sports leagues in the United States and Canada.
Secondary Labor Market
Refers to segment of the labor market characterized by low pay, poor job security, and limited career prospects, often involving part-time or temporary work.
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