The payment for the use of a resource in an amount higher than the resource's opportunity cost is

Name: The payment for the use of a resource in an amount higher than the resource's opportunity cost is
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Economic rent is the term used to describe a payment for a resource that is higher than its opportunity cost. This happens when a resource, such as land or labor, has a unique or scarce quality that allows its owner to charge a premium for its use.

The Payment for the Use of a Resource in an Amount