The portion of a worker's total earnings that is not necessary to keep the worker in her present job is called
A)opportunity cost
B)consumer surplus
C)economic profit
D)economic rent
E)normal profit

Question

Quizplus · Accepted Answer

Economic rent is the portion of a worker's total earnings that is not necessary to keep the worker in her present job. It represents the surplus value of a worker's labor beyond what is required to keep them in their current job. Therefore, option D is the correct choice. Options A, B, C, and E do not accurately describe the concept of economic rent.

The Portion of a Worker's Total Earnings That Is Not