The Price Paid to a Resource in Totally Fixed Supply

question 98

Multiple Choice

The price paid to a resource in totally fixed supply is called

• A)economic rent
• B)economic profit
• C)wages
• D)interest
• E)opportunity cost

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Definitions:

Kred Score

A measure of social media influence and outreach based on one's ability to inspire action within networks.

Pretest

An initial test or examination used to measure a baseline or gather data before a main study or campaign is conducted.

Posttest

A test administered after a particular event or period of time to evaluate outcomes or changes compared to a pretest.

Loyalty Program

A marketing strategy designed to reward repeated business by offering incentives to customers that frequently buy products or services from a company.