Based on the information provided it can be said that the most likely reason for the success of Lezos in international markets are their financial resources. That is because (like mentioned in the question) they are able to keep supporting these projects financially for as much time as they need in order for them to actually become successful. Therefore there is no other factor in play except for money.
Economic rent is the extra amount or addition earned by a production resource here and in this context,Mr Kurt is the resource.In this scenario,the extra amount he earned as a professional golfer having quit engineering for it and thus had a step-up(addition) of $320,000.
While the opportunity cost which known as the alternative forgone in order in favour of another alternative in a decision process here is $80,000.In this case,he had to forego engineering job($80,000) and therefore concentrate on professional golfing which paid him more(400,000) not omitting the fact that he could have engaged in the two jobs at same time.
Correct Option: Quantity demanded is greater than the quantity supplied.
Excess demand for a product occurs when quantity demanded is greater than the quantity supplied at the ongoing price. When their is a shortage of goods in a market. Excess demand is also known as shortage.
Excess supply occurs in a situation where quantity supplied is greater than the quantity demanded.
The acceptable quality level represents the amount of defects a consumer considers acceptable, while the lot tolerance percent defective indicates the amount of defects the consumer can actually tolerate.