A factor of production, whose supply is fixed in the short run, may get additional earnings. These earnings are generally referred to as

A factor of production, whose supply is fixed in the short run

Q.       A factor of production, whose supply is fixed in the short run, may get additional earnings. These earnings are generally referred to as:

  1. Surplus value
  2. Quasi-rent
  3. Transfer earnings
  4. Supernormal profit

Answer: Quasi-rent

Demand and Supply MCQs
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