Question: The answer should be C but I need a good explanation, please. 21-3. In which of the following situation(s) will owners who supply factors of

The answer should be C but I need a good explanation, please.

21-3. In which of the following situation(s) will owners who supply factors of production be most likely to earn economic rents? a. Highly elastic supply of the factor; highly elastic demand for the factor b. Highly elastic supply of the factor; highly inelas- tic demand for the factor c. Highly inelastic supply of the factor; highly inelastic demand for the factor

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