QUASI RENT

• QUASI RENT
• MICRO ECONOMICS
• MEANING

1.  GIVEN BY DR. MARSHALL
2.  DERIVED FROM LATIN MEANING AS IF
3. REFERS TO THE ADDITIONAL INCOME EARNED BY FACTORS ,OTHER THAN LAND WHOSE SUPPLY IS FIXED IN SHORT PERIOD.
4. THE TERM QUASI RENT WILL BE USED IN THE PRESENT VOLUME AS INCOME DERIVED FROM MACHINES AND OTHER APPLIANCES OF PRODUCTION MADE BY MEN.
5. NOT RELATED TO ANY PARTICULAR FACTOR OF PRODUCTION. RELATED TO TOTAL COST OF  A FIRM.QUASI RENT IS THE DIFFERENCE BETWEEN TOTAL REVENUE AND TOTAL VARIABLE COST

• QUASI RENT
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• D
• SIMILARITY

1. RENT AND QUASI RENT REPRESENT SURPLUS
2. WITH RISE AND FALL IN THE DEMAND FOR THE PRODUCE OF LAND RENT ALSO INCREASES OR DECREASES. SIMILARLY WITH RISE AND FALL IN THE DEMAND FOR THE MAN MADE MACHINES AND FACTORS OF PRODUCTION.
3. SUPPLY OF LAND IS FIXED. SIMILARLY IN THE SHORT RUN,SUPPLY OF MACHINES IS ALSO FIXED.

• DIFFERENCE
• RENT

1. FOR THE USE OF FREE GIFT NATURE LIKE RENT
2. SHORT RUN AS WELL AS LONG RUN
3. PERMANENT
4. ECONOMIC RENT =TR-TC
5. UNEARNED INCOME

• QUASI RENT

1. FOR THE USE OF MAN MADE FACTORS OF PRODUCTION
2. ONLY IN THE SHORT RUN
3. TEMPORARY
4. QUASI RENT= TR-VC
5. NECESSARY PAYMENT