Any payment to a factor of production in excess of what is necessary to keep that factor in its present employment is known as? - SchoolNGR

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Any payment to a factor of production in excess of what is necessary to keep that ...

Any payment to a factor of production in excess of what is necessary to keep that factor in its present employment is known as?

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Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

A Real income
B Profit
C Economic rent
D Real wage

Correct Answer: Option C

Explanation:

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