A Resource That Earns Only Economic Rent _____

question 141

Multiple Choice

A resource that earns only economic rent _____

• A)cannot be employed in any other line of production.
• B)has an upward-sloping supply curve.
• C)has a downward-sloping supply curve.
• D)has a marginal revenue product that is less valuable than its marginal cost.
• E)has a perfectly elastic supply curve.

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Definitions:

Cost

The amount of money required to purchase, produce, or maintain something.

Categorical

Pertains to data that can be divided into specific groups or categories that are mutually exclusive.

Categorical Data

Data that can be divided into groups or categories that do not have a numerical value or order.

Attributes

Characteristics or properties of objects in a dataset, often used in data analysis to describe elements accurately.