Category
page 1Industrial organization
economic rent
any payment to an owner or factor of production in excess of the costs needed to bring that factor into production
industrial organization
branch of economics
Hold-up problem
economic dilemma where two parties may be able to work most efficiently by cooperating, but refrain from doing so because of concerns that they may give the other party increased bargaining power and thus reduce their own profits
Minimum efficient scale
economic measure of business efficiency