A payment for a resource above the opportunity cost of the resource is

Name: A payment for a resource above the opportunity cost of the resource is
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Economic rent is the payment made for a resource that is above its opportunity cost. This means that the resource is earning more than it would in its next best alternative use. Social rent refers to rent that is paid for public housing, while nominal and real rent are terms used in economics to refer to the value of rent adjusted for inflation.

A Payment for a Resource Above the Opportunity Cost of the Resource