Multiple Choice
Economic rent represents
A) a loss to society since resource owners do not earn it
B) the difference between marginal revenue product and marginal resource cost
C) a loss to resource owners who earn less than the market value of the resource
D) any resource earnings less than that resource's opportunity cost
E) any resource earnings greater than that resource's opportunity cost
Correct Answer:
Verified
Related Questions
Q66: If the marginal revenue product of the
Q113: If a firm is experiencing diminishing marginal
