Question: How much of the following payments for factor services is likely to be economic rent? a. The $750 per month that a landlord receives for

How much of the following payments for factor services is likely to be economic rent?
a. The $750 per month that a landlord receives for an apartment rented to students
b. The salary of the Canadian prime minister
c. The annual income of Tiger Woods or Shania Twain
d. The salary of a window cleaner who says, "It's dangerous work, but it beats driving a truck."
e. An engineer at Google headquarters who loves going to work every day

Step by Step Solution

★★★★★

3.34 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a Probably most of the rental payment received by a landlord is not an economic rent He probably needs most of this to induce him to keep the building ... View full answer

blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

702-B-E-D-S (1405).docx

120 KBs Word File

Students Have Also Explored These Related Economics Questions!

Q:

How much of the following expenses are currently deductible by a cash basis taxpayer? a. Medical prescriptions costing $20 paid by credit card (medical expenses already exceed the 10% of AGI floor)....

Q:

Kimiko signed a loan agreement requiring payments of $234.60 at the end of every month for six years at 7.2% compounded monthly. (a) How much was the original loan balance? (b) If Kimiko missed the...

Q:

Field Construction agreed to lease payments of $642.79 on construction equipment to be made at the end of each month for three years. Financing is at 9% com- pounded monthly. (a) What is the value of...

Q:

Mrs Anh Thuy is a 43 year old lady admitted following an incidence of blurred vision, numbness down the right side and a sharp pain in her head. A neighbour found her on the ground unable to move or...

Q:

Suppose the United States allowed Japan free trade privileges in the U.S. market. What would happen to the equilibrium price and total quantity of VCRs bought and sold in the U.S. market?

Q:

What are the corporations bylaws?

Q:

How typical do you think it is for people to have multiple sides to their personality, as Lance Armstrong apparently does?

Q:

St. Paul Lumber Company incurs a cost of $280 per hundred board feet in processing certain "rough-cut" lumber, which it sells for $320 per hundred board feet. An alternative is to produce a "finished...

Q:

DoS attack can be done on the network level only and never targets CPU, memory, sockets, disk bandwidth, batabase bandwidth, or worker processes.

Q:

Heat conduction in a nuclear fuel rod assembly (Fig. 10B.3) considers a long cylindrical nuclear fuel rod, surrounded by an annular layer of aluminum cladding. Within the fuel rod heat is produced by...

Q:

A market research firm hires operators to conduct telephone surveys. The computer randomly dials a telephone number, and the operator asks the respondent whether or not he has time to answer some...

Q:

Newells Decision to Downsize: An Ethical Dilemma A particular issue in business ethics is: What exactly does the term ethics mean? Various writers have described ethics as rules that govern behavior,...

Q:

5. DURATION OF INVERSE FLOATERS Assume that LIBOR rates are risk free. Suppose you have a 10 year note that pays a quarterly coupon of (10% - 2 3mo LIBOR), divided by 4 since this is a quarterly...

Q:

Choose one of the six macroeconomic debates covered in Chapter 23 of your textbook and take a stand for one side. Explain your position using at least two of the economic tools you've learned in...

Q:

A business survey randomly sampled 20 different hotels and 20 different log cabins in British Columbia and recorded each of their nightly rates. A natural log transformation was needed in order for...

Q:

Please help me evaluate this integral. 8 2 2 v - v

Q:

Takes time out to coach team members to develop their skills and maximize their contribution. Professional integrity

Q:

A non-charmed baryon has strangeness S = 2 and electric charge Q = 0. What are the possible values of its isospin I and of its third component I z ? What is it usually called if I = 1/2?

Q:

Analyzing and recording spoiled unit activities Drake Industries manufactures toner car- tridges for computer laser printers. The production process requires three process centers. At the end of each...

Q:

1. Demand is ____on the upper portion of a linear demand curve and ____on the lower portion of a linear demand curve. 2. Suppose we are on the upper portion of a linear demand curve. If the price...

Q:

1. The income elasticity of demand is _____ (positive/negative) for normal goods and _____ (positive/negative) for inferior goods. 2. If a 20 percent increase in income increases the quantity of...

Q:

1. The income elasticity of demand is _____ (positive/negative) for normal goods and _____ (positive/negative) for inferior goods. 2. If a 20 percent increase in income increases the quantity of...

Q:

Please help? 4 The probability that a student has a Visa card (event V) is .82. The probability that a student has a MasterCard (event M) is .23. The probability that a student has both cards is .03....

Q:

MACRS depreciation expense and accounting cash flow Pavlovich Instruments, Inc., a maker of precision telescopes, expects to report pretax income of $433,000 this year. The company's financial...

Q:

You want to obtain a sample to estimate howr much parents spend on their kids birthday parties. Based on previous study, you believe the population standard deviation is approximately or = 52.1...

Related Book

Microeconomics 14th canadian Edition by Christopher T.S. Ragan, Richard G Lipsey