The payment for a factor of production that is completely inelastic in supply is
A) opportunity cost.
B) economic rent.
C) discounting.
D) limited liability.
Correct Answer:
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Q33: If land is reallocated or switched from
Q34: Economic rents are useful because
A) they increase
Q35: Q36: Suppose the supply of land is perfectly Q37: When the supply curve of a resource Q39: For superstar athletes Q40: The first economist to analyze economic rent Q41: Angie is debating whether to take a Q42: When economic rent exists Q43: 
A) their entire earnings are
A) the price is
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