Economic rent, or pure rent, is

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Economic rent, or pure rent, is the price paid for the use of land and other nonreproducible resources. It is a payment for the use of resources that have a fixed supply and cannot be increased, such as natural resources or land in a prime location. It is not a payment for the use of housing, factory buildings, or capital goods, as these resources can be reproduced or increased in supply. It is also not a payment for resources used in the production of "free goods" or for resources whose supply is perfectly elastic.

Economic Rent, or Pure Rent, Is