If an individual possesses an ability that others cannot acquire, payment to that individual is
A)partly economic rent.
B)a return called the real wage.
C)a return from investment in human capital.
D)comparable to the return to well-trained nurses.

Question

Quizplus · Accepted Answer

Economic rent refers to the income earned by an individual or entity due to a unique skill, asset, or advantage that others cannot easily replicate. Therefore, if an individual possesses an ability that others cannot acquire, the payment to that individual is partly economic rent.

If an Individual Possesses an Ability That Others Cannot Acquire