2312EconomicsMedium
The term ‘rent’ as it is used by economists. refers to?
Aany profit earned by stockholders when they sell their stock
Bthe profit earned by the owner of any housing unit.
Cthe return to any factor of production that is in fixed supply
Dthe amount paid each year by a tenant for an apartment
Correct answer
C. the return to any factor of production that is in fixed supply
Explanation
The correct answer is the return to any factor of production that is in fixed supply.