Marshall's theory of profit is best described as:
Marshall believes profits include interest, which is determined by the supply and
demand for loanable funds; the wages of management; and quasi-rents, arising
due to a scarcity of savings in the short run.
Marshall believes profits include interest, which is determined by the supply and
demand for labor; the wages of management; and quasi-rents, arising due to a
scarcity of capital in the long run.
Marshall believes profits include interest, which is determined by the supply and
demand for loanable funds; the wages of management; and quasi-rents, arising
due to a scarcity of capital in the short run.
Marshall believes profits include interest, which is determined by the supply and
demand for loanable funds; the wages of workers; and quasi-rents, arising due to
a scarcity of capital in the short run.
Marshall believes profits include interest, which is determined by the supply and
demand for loanable funds; the wages of management; and quasi-rents, arising
due to a scarcity of labor in the short run.