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:

Intraspecific

Pertaining to interactions or relationships occurring within the same species, such as competition or mating.

Negative Feedback

A regulatory mechanism in which a stimulus causes an opposite output in order to maintain an optimal level of whatever is being regulated.

Density Dependent

Factors whose effects on the size or growth of the population vary with the population density.

Fecundity

The potential capacity of an individual to produce offspring.