If All of the Returns to a Resource Are in the Form

question 91

Multiple Choice

If all of the returns to a resource are in the form of economic rent,

• A)the demand curve for that resource must be horizontal
• B)the demand curve for that resource must be vertical
• C)the supply curve of that resource must be horizontal
• D)the supply curve of that resource must be vertical
• E)the demand curve for that resource must be perfectly elastic

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Definitions:

Homeostasis

The process by which living organisms maintain a stable internal environment despite changes in the external environment.

Occupying Space

The act or state of having a physical presence or taking up room within a given area.

Responsiveness

The ability of an organism or a system to react to changes in its environment or within itself.

Shiver

An involuntary response to cold involving rapid, rhythmic muscle contractions to generate heat.