Which of the following would increase the economic rent of a factor, the supply curve of which is perfectly inelastic?

Question

Quizplus · Accepted Answer

When the supply curve of a factor is perfectly inelastic, it means that the quantity supplied does not change regardless of the price. Therefore, an increase in demand for this factor would increase its price and, consequently, its economic rent, as the quantity supplied remains unchanged.

Which of the Following Would Increase the Economic Rent of a Factor