economic rent is the payment made for a non reproducible gift of nature 1480,000
ID: 1198913 • Letter: E
Question
economic rent is the payment made for a non reproducible gift of nature 1480,000 0 8. When someone makes a profit due to inventing a new product or concept, thern or concept, then this profit is due to a) Uncertainty b) Innovation c) Arbitrage d) All the above e) None of the above Economic rent is the payment made for a non-reproducible gift of nature True/False 9. 10, Assume the nominal rate of interest is 9% and the expected rate of inflation is 4%. The real interest rate is a) 14% b) 7% c) 13% d) 26% e) 24%Explanation / Answer
Answer8. b) Innovation
A hypothesis outlining how new technological and other advancements spread throughout societies and cultures, from introduction to wider-adoption.
Answer9 True
Economic rent is the positive difference between the actual payment made for a factor of production (such as land, labor or capital) to its owner and the payment level expected by the owner, due to its exclusivity or scarcity.
Answer10.
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