The return to a factor of production which is fixed in supply in the short period is called
A) Scarcity rent
B) Economic rent
C) Quasi-rent
D) Contractual rent
Correct Answer:
Verified
Q1: Of 'real wages' and 'money wages'
A)The former
Q2: The concept of Quasi-rent mean
A)The rent to
Q4: The marginal productivity theory of distribution was
Q5: The 'iron law of wages' is
A)The wage-fund
Q6: According to Prof Knight, profit is the
Q7: The uncertainty-bearing theory of profit was propounded
Q8: Which of the following is not included
Q9: Marginal productivity theory is also called
A)Real theory
B)Classical
Q10: Subsistence theory of wages was used by
A)Karl
Q11: Profit is also known as
A)Contractual rent
B)Residual income
C)Net
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