Economic rent is broadly defined as

Question

Quizplus · Accepted Answer

Economic rent refers to the surplus payment made for the use of any resource that has a fixed supply. This surplus payment is generated by the scarcity of the resource, which leads to a higher market value for its use. Therefore, option B is the best choice as it defines economic rent in the broadest sense. Option A is incorrect as it only refers to land as a source of economic rent. Option C is also incorrect as it is a specific example of economic rent related to farmland. Option D is incorrect, as it refers to dividends, which are not related to economic rent.

Economic Rent Is Broadly Defined as