Which of the Following Correctly Describes Economic Rent

Multiple Choice

Which of the following correctly describes economic rent?

A) The area that is enclosed between a firm's upward-sloping input supply curve and the input demand curve represents economic rent.
B) The payment to an input that is in excess of the minimum amount necessary to retain the input in its present use is economic rent.
C) The difference between the payment to an input and the maximum amount necessary to retain the input in its present use is economic rent.
D) The payment made by a firm to lease the services of land,buildings,equipment,or some other durable asset is economic rent.