Pure economic rent can exist only when the factor under consideration

Name: Pure economic rent can exist only when the factor under consideration
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Pure economic rent is a concept that applies when the supply of a factor is perfectly inelastic, meaning that the quantity of the factor does not change regardless of changes in its price. This is often associated with fixed factors such as land, but the key characteristic is the inelastic supply, not the type of factor.

Pure Economic Rent Can Exist Only When the Factor Under