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Solution,
True
Economic Rent = Actual Earnings - Transfer Earning
Transfer earning is an opportunity cost because it is the expected earning of the factor from his next best occupation.
Economic rent is related to the elasticity of input of production when supply is inelastic of input then actual earning is economic rent, it is the case where the factor has only one use and the supply is fixed. As a result, the transfer earnings or the opportunity cost is zero, but there is positive rice for the input in the market.
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