If you have a chance to be a stand-up comic earning $2 million,a plumber at $100,000,or an assembly line worker at $20,000,and would be willing to work at any of these jobs for $20,000,how much would your economic rent be if (a)you were a stand-up comic? (b)you were a plumber? (c)you were an assembly line worker?

Economic Rent

A payment to a factor of production in excess of the costs needed to bring that factor into production, often associated with unique assets.

Stand-Up Comic

A performer who tells jokes and humorous stories to an audience, usually performing live on stage.

Assembly Line Worker

An individual employed in a manufacturing process where a product is assembled in a sequential manner using a conveyance or other mechanism to move items from workstation to workstation.