Definitions for economic rent
Random House Webster's College Dictionary
the return on a productive resource, as land or labor, that is greater than the amount necessary to keep the resource producing.
Origin of economic rent:
economic rent, rent(noun)
the return derived from cultivated land in excess of that derived from the poorest land cultivated under similar conditions
the amount of recompense paid to a factor of production on top of its transfer earnings; this does not encompass costs incurred during the process of production or service
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