| 单词 | economic rent |
| 释义 | economic rentDefinition Difference between what a factor of production (capital, land, labor) is earning, and what it could earn in the next best-paid employment. Use 'economic rent' in a SentenceThe rent of a condo is $1000 marked by the owner, but due to the scarcity of condos in that location a person offered $1200 for the same condo. Hence $200 is the economic rent of that condo. Me and my friend wondered what the economic rent would be and thought it might earn us more in the next round. The economic rent marginally compared the alternatives for us so we could understand all of our options in the market. |
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