Question

For the first 209 crane operators, the economic rent earned in the initial equilibrium condition is:

a)$70,000

b)$80,000

c)$10,000

d)$51,000

e)$100,000

Answer 1

e)$100,000

Step-by-step explanation:

Generally, in an economic system, the curve of demand and supply will determine the economic pay rent. The economic pay rent will definitely increase in the first sets of crane operators such as 209 with an economic rent of $100,000. Therefore, we can conclude that the number of crane operators present in the economic system also influence the economic rent.