An entrepreneur who collects profits in the short run for a new invention is collecting:
A) the competitive rate of return on capital.
B) temporary monopoly profit.
C) rent on his or her effort.
D) a Ramsey surplus.
E) an illegal monopoly profit.
Correct Answer:
Verified
Q24: A firm's profits equal:
A)sales minus wages.
B)net worth
Q25: Some portion of profit may sometimes be
Q26: If capital has a positive rate of
Q27: If inflation and depreciation are equal to
Q28: Positive profit premiums in excess of normal
Q30: If an investment returns $600 a year
Q31: The real interest rate is 2 percent
Q32: "Normal profits" may properly be included in
Q33: Investment in capital goods involves:
A)increasing present consumption.
B)forgoing
Q34: The demand and supply of capital is
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