The Payment for a Factor of Production That Is Completely

question 344

Multiple Choice

The payment for a factor of production that is completely inelastic in supply is

• A) opportunity cost.
• B) economic rent.
• C) discounting.
• D) limited liability.

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Definitions:

DC Motor

An electric motor that runs on direct current electricity, widely used in various applications due to its simplicity and ease of control.

Magnetic Fields

Invisible fields produced by electrically charged objects, affecting the behavior of charged objects in the vicinity.

Valve-Regulated Lead-Acid

A type of lead-acid battery that is sealed, using valves to control gas release and prevent water loss, often used in portable and backup applications.

Recombinant Type Battery

A battery that combines different technologies, typically involving the recombination of hydrogen and oxygen to produce water and electricity.