Paper 2 · economic rent

Which of the following is the payment to a factor of production over and above that necessary to keep the factor in its present use?

Aconsumer's surplus

Beconomic rent

Cnormal profit

Dtransfer earnings

Explanation: Economic rent is the payment to a factor of production over and above its transfer earnings (the minimum needed to keep it in its present use).

ZIMSEC Economics Paper 2, June 2009, Q9

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Which of the following is the payment to a factor of production over and above that necessary to keep the factor in its present use?

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