If a Factor of Production Has No Production Cost and Has

question 72

Multiple Choice

If a factor of production has no production cost and has a fixed supply, then payments to that factor constitute what economists call

• A) abnormal profits.
• B) economic rent.
• C) normal profits.
• D) interest payments.

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Definitions:

Public Deliberation

A process where citizens gather to discuss issues of public relevance, weigh options, and ideally contribute to decision-making in a democratic society.

Upper-Income Americans

Individuals or households that fall within the higher income brackets of the population, often associated with greater purchasing power and economic influence.

Lower-Income Americans

refers to individuals and families in the United States whose income falls below a certain threshold, often associated with economic challenges and limited access to resources.