In an Input Market,economic Rent Is Defined as

question 19

Multiple Choice

In an input market,economic rent is defined as

• A)the total remuneration paid to a factor of production.
• B)the minimum amount required to retain a factor of production in its present use.
• C)the total cost for a firm of renting land,equipment,and buildings.
• D)the extent to which payments to a factor of production exceed the minimum amount required to retain it in its present use.

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Definitions:

Be Cautious

An admonition advising individuals to act with care and consideration of potential risks.

Thought-Activated Software

Software interfaces that are controlled through brain waves or thoughts, enabling hands-free operation.

Expected Gain

The anticipated value or return from an investment, calculated by assessing probable outcomes and their probabilities.

Revenue

The income that a business receives from its normal business activities, usually from the sale of goods and services to customers.