For an individual who has special talent as a singer, a large proportion of her salary can be considered

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Economic rent refers to the payment made for a factor of production (in this case, the singer's talent) that is in limited supply and has high demand. As a result, a large proportion of the singer's salary can be considered economic rent. This is different from a fixed cost, which is a cost that does not vary with the level of output or activity. Payment below opportunity cost implies that the individual is not receiving full compensation for her talent, which is unlikely if she is being paid a large salary. Opportunity cost refers to the value of the next best alternative that must be given up to pursue a certain action or decision. While opportunity cost is relevant in decision-making, it does not apply specifically to determining a singer's salary.

For an Individual Who Has Special Talent as a Singer