One example of Ricardian rent is
A) rent paid to landlords under price controls.
B) the difference between the wage of a star baseball player and what he could earn outside of baseball.
C) the amount paid to a seller above the equilibrium price of tourist class tickets in order to receive higher quality seats in first class.
D) the price rise of wool from a disease among sheep.
Correct Answer:
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Q26: The excess burden of a tax is
A)the
Q27: Price controls
A)are always popular with consumers because
Q28: Who benefit(s)from protectionism?
A)Consumers
B)Domestic producers
C)No one
D)Both consumers and
Q29: When prices drop in response to a
Q30: Suppose there are 100 firms each with
Q32: Suppose there are 100 firms each with
Q33: Per-unit transaction costs
A)may cause the demand and
Q34: Quotas that limit the quantity of imports
Q35: "Missing markets" result from
A)high transactions costs of
Q36: In a competitive market,an efficient allocation of
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