In an Input Market,economic Rent Is Defined as The

Multiple Choice

In an input market,economic rent is defined as the:

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