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Choose the statement that best describes the difference between "economic rent" and other factor payments.

luannamw86

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Choose the statement that best describes the difference between "economic rent" and other factor payments.

Choose the statement that best describes the difference between "economic rent" and other factor payments.

▸ Economic rent is unearned income of the factor whereas other payments are earned.

▸ Economic rent is the sum of all factor payments.

▸ There is no difference between economic rent and other factor payments.

▸ Economic rent is not a cost to the firm but other payments are.

▸ A reduction in economic rent will not reduce the availability of the factor whereas reducing other payments of factors will reduce their availability.

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Microeconomics

Edition: 17^th

Author: Ragan

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ggyxxcool

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luannamw86 Author

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Thanks for your help!!

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This site is awesome

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Smart ... Thanks!

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