Which of the following would be least likely to earn economic rent?
A)an owner of land located on Yonge Street,near downtown Toronto
B)Jim Murray,an auto- plant worker in Oshawa,Ontario
C)Celine Dion
D)Robert Bateman,famous wildlife artist
E)a university professor who loves every bit of his job

Question

Quizplus · Accepted Answer

Economic rent is the extra income earned above the minimum necessary to keep a resource or factor of production in its current use. Auto-plant workers in Oshawa, Ontario are not in a position to earn economic rent as there is not much competition for their services and they are easily replaceable.

Which of the Following Would Be Least Likely to Earn