Author Question: The division of a resource's earnings between economic rent and opportunity cost depends on the ... (Read 83 times)

wrbasek0 · **on:** Jun 30, 2018

The division of a resource's earnings between economic rent and opportunity cost depends on the resource owner's
a. elasticity of labor supply
b. price elasticity of labor demand
c. income elasticity of labor demand
d. cross-price elasticity of demand
e. marginal revenue product

Question 2

According to the Coase theorem, if bargaining costs are small, then there will be an efficient solution to the problem of toxic waste
a. if the creator of the toxic waste is assigned the property rights
b. if the victim of toxic waste is assigned the property rights
c. regardless of which party is assigned the property rights
d. if the property rights are shared equally between the creator and the victim of toxic waste
e. in the form of a pollution tax