Economic rent/Definition: Difference between revisions
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imported>Nick Gardner (New page: <noinclude>{{Subpages}}</noinclude> The difference between the payment received by a factor of production and the payment that would be necessary to keep that factor in use: a measure of t...) |
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The difference between the payment received by a factor of production and the payment that would be necessary to keep that factor in use: a measure of that factor's | The difference between the payment received by a factor of production and the payment that would be necessary to keep that factor in use: a measure of that factor's [[market power]]. | ||
Latest revision as of 11:16, 6 February 2010
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Economic rent [r]: The difference between the payment received by a factor of production and the payment that would be necessary to keep that factor in use: a measure of that factor's market power.