Solved

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

Question 88

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.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents