Multiple Choice
George is debating whether to concentrate on playing professional football or professional baseball. He is offered $6 million a year to play baseball and $7 million a year to play football. If he chooses to play football,
A) the economic rent in his salary is $7 million.
B) the economic rent in his salary is $6 million.
C) the economic rent in his salary is $1 million.
D) the economic rent in his salary is $13 million.
Correct Answer:
Verified
Related Questions