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What is the difference between Economic rent and Transfer earnings in Micro Economics?

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What is the difference between Economic rent and Transfer earnings in Micro Economics?
posted Jul 11, 2017 by Chetan Hindu

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Transfer Earnings is the amount that the factor could earn in it's best paid alternative employment. Economic rent is the difference between what the factor is earning and what the factor could earn in it's alternative employment.

answer Jul 12, 2017 by Purabi Sarkar
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