economic rent earned by an entertainer or sports star is equal to the person\'s

Question

economic rent earned by an entertainer or sports star is equal to the person's opportunity cost. a payment above the opportunity cost of the individual untaxed income none of the above answers is correct. when a city licenses only 3 taxi firms to serve the market, the city has created a cartel. legal monopoly monopolistically competitive market legal oligopoly if an oligopolistic game is repeatedly played, which of the following can occur? players can learn ways to cooperate and earn an economic profit the competitive price and output consistently is the final result firms can learn how to cheat more effectively on the other player one firm will be driven out of business the players in a game theory situation often do not act in their joint interest because of which of the following? they do not realize the benefit of cooperation players strive to minimize their opponents' profit player do not understand the game and its payoff it is not in each player's self - interest to cooperate. if the population grows, what happens to the demand for financial capital and why? it increases because the demand for all goods and services increases. it decreases because the opportunities for investment are spread over more people. it becomes perfectly elastic with respect to the rate of interest

Explanation / Answer

1 b 2 d 3 a 4 d 5 a

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