Which statement about rent is FALSE?
A) It is any return or income that flows to land as a factor of production.
B) It rises when the supply of usable land decreases.
C) It depends entirely on demand when supply is perfectly inelastic.
D) It is a payment that flows to entrepreneurs.
Correct Answer:
Verified
Q4: In economics, the term "land" refers to
A)
Q5: The economic payment for land is called
A)
Q6: Rent is the payment to owners of
Q7: The price of land is primarily determined
Q8: The discovery of natural gas in the
Q10: Industrial agglomeration
A) describes geographical clusters of industries
Q11: Industrial agglomeration occurs because of which economic
Q12: The marginal product of capital curve has
Q13: The marginal revenue product of capital is
Q14: In economics, firms continue to invest until
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