1. The concept of quasi-rent is important because: Select one: A. It tells us ab
ID: 1138835 • Letter: 1
Question
1. The concept of quasi-rent is important because:Select one:
A. It tells us about the possible magnitude of the hold up problem. B. It influences the decision to increase promotion of a product. C. It increases the firms employees. D. It is directly related to economies of scope. E. All of the above are correct answers.
2. Quasi-rents may be thought of as:
Select one:
A. Economic profits. B. The difference between accounting profits and economic profits. C. The difference between profits made in the best use of any asset and those that would be made in the second best use of asset. D. Accounting profits. E. None of the above answers are correct. 1. The concept of quasi-rent is important because:
Select one:
A. It tells us about the possible magnitude of the hold up problem. B. It influences the decision to increase promotion of a product. C. It increases the firms employees. D. It is directly related to economies of scope. E. All of the above are correct answers.
2. Quasi-rents may be thought of as:
Select one:
A. Economic profits. B. The difference between accounting profits and economic profits. C. The difference between profits made in the best use of any asset and those that would be made in the second best use of asset. D. Accounting profits. E. None of the above answers are correct.
Select one:
A. It tells us about the possible magnitude of the hold up problem. B. It influences the decision to increase promotion of a product. C. It increases the firms employees. D. It is directly related to economies of scope. E. All of the above are correct answers.
2. Quasi-rents may be thought of as:
Select one:
A. Economic profits. B. The difference between accounting profits and economic profits. C. The difference between profits made in the best use of any asset and those that would be made in the second best use of asset. D. Accounting profits. E. None of the above answers are correct.
Explanation / Answer
1. Quasi rent is a temporary solution to scarcity or limitations to supplies against the sudden increase in demand for a short period of time.
The answer for 1st question is option A.
2. Option E because quasi rent is never a profit it is always income which is lend for a period of time and vanishes later with an interest as liability.
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