Author Question: If a resource can be put to a single use and has no alternative uses then: a. economic rents are ... (Read 73 times)

Capo · **on:** Jun 30, 2018

If a resource can be put to a single use and has no alternative uses then:
a. economic rents are zero.
b. transfer earnings are maximized.
c. total earnings are zero.
d. all earnings are economic rents.
e. all earnings are transfer earnings.

Question 2

The imposition of a minimum wage in the unskilled labor market creates labor surplus or unemployment.
a. True
b. False
Indicate whether the statement is true or false