All of the Following Statements,except One,concerning the Concept of Economic

question 126

Multiple Choice

All of the following statements,except one,concerning the concept of economic rent are correct.Which is the exception?

• A)The more inelastic the supply of a factor,the more economic rent that factor earns.
• B)A factor that has a perfectly inelastic supply will earn no transfer earnings.
• C)It is possible for a factor to receive both economic rent and transfer earnings.
• D)If we assume that land has only one use,such as agriculture,then all of its return is economic rent.
• E)The higher the transfer earnings of a factor,the higher its economic rent will be.

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Definitions:

Strategic Planning

Long-term organizational process dedicated to setting goals, defining actions to achieve those goals, and allocating resources to implement the actions.

Firm's Mission

A statement that outlines a company's core purpose and focus, guiding its strategy and decision-making.

Disgruntled Stockholders

Disgruntled stockholders are shareholders who are unhappy or dissatisfied with the management decisions, performance, or policies of a corporation.

Management Team

A group of individuals at the top level of an organization who are responsible for making strategic decisions and overseeing the company's operations.