Marginal revenue product curve is
An excess demand curve
A supply curve for a factor
A demand curve for a factor
Decrease demand curve
If a factor has many close substitutes, its elasticity of demand will be
Zero
High
Low
Constant
The distribution of national income among persons in the society is called
Functional Distribution
Income Distribution
Personal Distribution
Demand distribution
According to the Ricardian theory of rent, the marginal land is one with
No Rent
Low Rent
High Rent
None of these
The wage fund theory is developed by
Ragnar Frisch
J.S. Mill
Keynes
Adam smith
A factor which has less substitutes will have
Moderately high elasticity of demand
Very high elasticity of demand
Low elasticity of demand
Elasticity of demand
The theory of factor pricing is popularly known as
Theory of Distribution
Theory of Consumption
Theory of Supply
Theory of demand
According to modern theory rent arises when
Actual earning exceeds transfer earnings
Actual earning equal transfer earnings
Actual earning falls short of transfer earning
Actual earning decreases transfer earnings
The minimum supply price of a factor to a use in the
Scarcity Rent
Economic Rent
Transfer Earnings
Distribution of rent
Quasi rent is
Permanent in nature
Temporary in nature
Temporary for some time and then permanent
