chapter 17
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | Economic rent earned by a factor of production in the short run which will disappear in the long run once the supply of the factor is increased
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| Rent of availability | show 🗑
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| specific factor | show 🗑
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| show | we can define the supply price of a factor of production as the minimum payment necessary to bring that factor into its present use and maintain it in that use
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| show | we can define the transfer earnings of a factor of production as the earnings that the would receive in its next most highly paid alternative employment
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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