[amp_mcq option1=”Surplus value” option2=”Quasi-rent” option3=”Transfer earnings” option4=”Super normal profits” correct=”option2″]<\/p>\n
The correct answer is: B. Quasi-rent<\/strong><\/p>\n Quasi-rent is a temporary economic rent that arises in the short run when the supply of a factor of production is fixed. This can happen when a factor of production is inelastic in supply, such as land or natural resources. In the short run, the supply of these factors cannot be increased, so the price of these factors will be determined by demand. If demand for these factors increases, the price will rise, and the owners of these factors will earn a quasi-rent.<\/p>\n Surplus value is the difference between the value of the output produced by a worker and the wage paid to the worker. This is a concept that is often used in Marxist economics.<\/p>\n Transfer earnings are the earnings that a factor of production would earn in its next-best alternative use. This is the minimum amount that a factor of production must be paid in order to keep it in its current use.<\/p>\n Super normal profits are profits that are above the normal rate of return. This can happen when a firm has a monopoly or when it is able to price discriminate.<\/p>\n In conclusion, the correct answer is B. Quasi-rent.<\/p>\n","protected":false},"excerpt":{"rendered":" [amp_mcq option1=”Surplus value” option2=”Quasi-rent” option3=”Transfer earnings” option4=”Super normal profits” correct=”option2″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-59541","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"\n