An example of innovation rent is: Select one or more: a.The cost of opening a new factory. b.The return to an entrepreneur from introducing a new technology. c.The opportunity cost of production. d.The cost an entrepreneur must pay to the inventor of a new technology.

An example of innovation rent is: Select one or more: a.The cost of opening a new factory. b.The return to an entrepreneur from introducing a new technology. c.The opportunity cost of production. d.The cost an entrepreneur must pay to the inventor of a new technology.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter2: Scarcity And Opportunity Costs

Section: Chapter Questions

Problem 4E

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Question

An example of innovation rent is:

Select one or more:

a.The cost of opening a new factory.

b.The return to an entrepreneur from introducing a new technology.

c.The opportunity cost of production.

d.The cost an entrepreneur must pay to the inventor of a new technology.

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