Q.Distinguish between Rent and Quasi-rent.

Quasi-rent arises on man-made appliances (machines, equipment) in the short run, so the answer is option (c).

Quasi-rent is a concept given by Alfred Marshall. It is the surplus income earned in the short run by factors of production whose supply is fixed temporarily — chiefly man-made appliances such as machines, equipment and buildings. Because their supply cannot be increased in the short period, they earn a rent-like surplus when demand for their services is high.

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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.

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The quote on quasi-rent belongs to (c) Alfred Marshall.

Quasi-rent is a concept introduced by Alfred Marshall. It refers to the short-period surplus income earned by man-made appliances such as machines, buildings and instruments whose supply cannot be increased quickly. Because their supply is temporarily fixed, they earn a rent-like surplus in the short run; this surplus disappears in the long run when supply can be adjusted, so it is only 'quasi' (like) rent rather than true rent, which arises from the fixed supply of land.

Why the others are wrong: …