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30 April, 18:52

Economic rent is defined as the Question 2 options: amount by which the payment to a factor of production exceeds the supplier's opportunity cost. amount landlords charge to tenants. difference between total revenue and implicit costs.

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  1. 30 April, 19:35
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    amount by which the payment to a factor of production exceeds the supplier's opportunity cost.

    Explanation:

    Economic rent is payment to a factor of production that exceeds the cost of using the factor of production.
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