Question 23 of 38
Q.The concept of 'Quasi Rent' is associated with :
(a) Walker
(b) Ricardo
(c) Marshall
(d) Keynes
Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2024MCQ· 1mImportance★★★★★
61% · 23/38 Questions
You're viewing a preview — the full solution, concept, methods & PYQ mapping are locked.
Start your 14-day free trial to unlock the full solution →The correct option is (c) Marshall: quasi-rent is Marshall's concept.
Quasi-rent is the term Alfred Marshall gave to the surplus income earned by man-made factors (machines, buildings, appliances) whose supply is fixed in the short run but can be increased in the long run. Because their supply cannot be raised immediately, they temporarily earn a rent-like surplus, which disappears in the long run when supply adjusts.
…
Unlock everything free for 14 days
- Full step-by-step solutions
- Concept-first explanations
- Methods, shortcuts & mistakes
- PYQ mapping + timed mock tests
Full access for 14 days. No credit card required.