What are Economic Rents How do they affect the economy Please try to...

What are â€œEconomic Rents.â€ How do they affect the economy? Please try to be as thorough...

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What are â€œEconomic Rents.â€ How do they affect the economy?
Please try to be as thorough as possible, thanks!

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Answer Economic rent is an overabundance payment made to or for a factor of production over the sum required by the property proprietor to continue with the arrangement This regularly happens when a buyer attempting to accomplish a decent or administration that is viewed as elite makes an offer before hearing See Answer

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What are â€œEconomic Rents.â€ How do they affect the economy? Please try to be as thorough...