The return on a factor above the amount necessary to entice that factor into the production process is called rent.

Name: The return on a factor above the amount necessary to entice that factor into the production process is called rent.
Brand: Quizplus
Rating: 4.9 (31 reviews)

Question

Quizplus · Accepted Answer

This statement is true. Rent is the return on a factor above the amount necessary to entice that factor into the production process, such as land or natural resources.

The Return on a Factor Above the Amount Necessary to Entice