Economic rent
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In economic theory, economic rent is a payment to a factor of production in excess of that which is needed to keep it employed in its current use.
For example, if someone is earning $20,000 for a job, and the next best job pays $15,000, then the economic rent is the difference between the two of $5,000.
References
- Adapted from the Wikipedia article, "Economic_rent" http://en.wikipedia.org/wiki/Economic_rent, used under the GNU Free Documentation License
