Which of the following resources earns the highest economic rent as a proportion of total earnings?
A)a resource specialized in one task
B)a nonspecialized resource
C)a resource with inelastic demand
D)a resource with low demand
E)a resource with unit-elastic demand

Question

Quizplus · Accepted Answer

A resource specialized in one task earns the highest economic rent because it is rare and has a unique skill set that cannot be easily replaced, making it more valuable and in high demand. The other options have lower economic rent because they are more abundant or have less specialized skills that can be easily substituted.

Which of the Following Resources Earns the Highest Economic Rent