The first economist to analyze economic rent was
A) Henry George.
B) David Ricardo.
C) Karl Marx.
D) John Stuart Mill.
Answer: B
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Which of the following statements is true?
A) The wages expected by potential workers are independent of their work experience. B) Some people seeking paid jobs may not be able to find employment. C) The wages expected by potential workers are independent of their educational qualifications. D) All people seeking paid jobs are eventually employed.
Refer to Figure 4-3. What is the total amount that Kendra is willing to pay for 1 ice cream cone?
A) $0.50 B) $3.50 C) $9.00 D) $13.50
If variable cost rises from $60 to $100 as output increases from 15 to 20 units, the marginal cost of the twentieth unit
a. is $100 b. is $5 c. is $40 d. is $8 e. cannot be determined without total cost
The research of William Shepherd suggests that since World War II, the three main reasons for increased competition in U.S. industries are international trade, deregulation, and antitrust activity
a. True b. False