Unlike economic profit,economic rent
A) can be less than zero.
B) cannot be easily driven to zero.
C) do not involve the idea of opportunity costs.
D) only applies to land.
E) can be positive when accounting profit is zero.

Question

Quizplus · Accepted Answer

Economic rent is a payment to a factor of production in excess of what is needed to keep it in its current use and is not easily driven to zero due to scarcity or unique characteristics.

Unlike Economic Profit,economic Rent