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Meaning of economic rent

ec'onom'ic rent'

Pronunciation: [key]
  1. the return on a productive resource, as land or labor, that is greater than the amount necessary to keep the resource producing or on a product in excess of what would have been the return except for some unique factor. Also called
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.