In economic theory, economic rent is a payment to a factor of production in excess of that which is needed to keep it employed in its current use.
For example, if someone is earning $20,000 for a job, and the next best job pays $15,000, then the economic rent is the difference between the two of $5,000.
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... $42,500 versus $32,107 for females. The per capita income for the town is $29,910. 8.7% of the population and 6.7% of families are below the poverty line. Out of the ...