Economic rent is defined as
A) any payment that has a contract period.
B) a payment to an owner of a factor that is in perfectly elastic supply.
C) a payment to an owner of a factor greater than the opportunity cost of utilizing the factor.
D) the opportunity cost or return to a productive factor such as capital.
Correct Answer:
Verified
Q1: Economic rent applies to
A) land only and
Q2: Q3: For an actor whose natural talent is Q4: Economic rent is any payment Q5: In analyzing land rent, David Ricardo constructed Q7: The concept of economic rent is associated Q8: Economic rent is a concept that can Q9: Pure economic rent is a payment to Q10: A payment for the use of any Q11: Pure economic rent is
A) received by
A) a payment to
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