Athena Sheraton is celebrity look-alike. She gets paid $100,000 per year to go to parties and other events and pretend she is the celebrity she looks like. Unfortunately, Athena has no real employable skills outside of her celebrity-look alike abilities. If she couldn't do the celebrity look-alike gig, she would be flipping burgers at minimum wage and earning $10,000 per year.

a. All of Athena's income is economic rent.
b. $100,000 of Athena's income is economic rent.
c. We can't figure economic rent from this information.
d. $90,000 of Athena's income is economic rent.
e. None of her income is economic rent.

Question

Athena Sheraton is celebrity look-alike. She gets paid $100,000 per year to go to parties and other events and pretend she is the celebrity she looks like. Unfortunately, Athena has no real employable skills outside of her celebrity-look alike abilities. If she couldn't do the celebrity look-alike gig, she would be flipping burgers at minimum wage and earning $10,000 per year.

a. All of Athena's income is economic rent.
b. $100,000 of Athena's income is economic rent.
c. We can't figure economic rent from this information.
d. $90,000 of Athena's income is economic rent.
e. None of her income is economic rent.

justjm · Answer

ER = MP - Oc
In 1 year
Oc=10,000
MP=100,000

justus · Answer

thank you