Generally, the more elastic the supply of a resource, the greater is the economic rent as a proportion of total earnings

Indicate whether the statement is true or false


false

Economics

You might also like to view...

The above figure shows a housing market with a rent ceiling equal to $1,000. In this figure, what area is equal to the producer surplus?

A) area A B) area B C) area C D) area D E) area E

Economics

In 1999, around 24 percent of college students attended private schools

a. True b. False

Economics

In accordance with the law of supply, both individual and market supply curves are drawn:

a. horizontal. b. vertical. c. downward-sloping. d. upward-sloping.

Economics

If the unemployment rate rose from 6 percent to 7 percent,

A. Cyclical unemployment went up by more than 1 percent. B. Cyclical unemployment went up by 1 percent. C. Cyclical unemployment went up by less than 1 percent. D. Cyclical unemployment stayed the same. E. Cyclical unemployment went down.

Economics