Solved: Which would you expect to have a low level of economic rent, Microeconomics

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Which would you expect to have a low level of economic rent

Discussion:

Which of the following individuals would you expect to have a high level of economic rent, and which would you expect to have a low level of economic rent? Explain why for each.

a. Bob has a highly specialized medical skill shared by very few individuals.

b. Sally has never attended school. She is 25 years old and is an internationally known supermodel.

c. Tim is a high school teacher and sells insurance part time.

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Microeconomics: Which would you expect to have a low level of economic rent

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