If Jason were offered a job as an accountant at $30,000 and a job as a running back for the Oakland Raiders at $300,000,and he would have been willing to accept the latter even if it paid as little as $50,000,he would be receiving economic rent of

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Quizplus · Accepted Answer

Economic rent is the difference between what an individual is paid and what they would have been willing to accept for a particular job. In this scenario, Jason would have been willing to accept the running back position for as little as $50,000, but he is being paid $300,000. Therefore, he is receiving economic rent of $250,000 ($300,000 - $50,000).

If Jason Were Offered a Job as an Accountant at $30,000