Who is most likely to be earning economic rent?

Question

Quizplus · Accepted Answer

David Letterman is most likely to be earning economic rent as a highly paid and in-demand celebrity talk show host. Economic rent refers to the income earned by a factor of production (such as labor or land) that exceeds the minimum amount necessary to keep it in use. David Letterman's popularity as a celebrity host allows him to command higher wages than other talk show hosts, which results in economic rent. The other options - a tenant farmer, factory worker, and IRS agent - are unlikely to earn economic rent as their wages are typically determined by market forces and competition, rather than their individual talents or abilities.

Who Is Most Likely to Be Earning Economic Rent