In which field would economic rents likely be greatest for the best in their field?

Question

Quizplus · Accepted Answer

Economic rent refers to the excess income earned by a factor of production (e.g. labor, capital) above what is necessary to keep it in its current use. In the field of hockey, the best players are often in high demand and can command large salaries (i.e. economic rents) due to their unique skills and talents. In contrast, the other options (farming, teaching, car repairing) do not typically have individuals who can command such high levels of income.

In Which Field Would Economic Rents Likely Be Greatest for the Best