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Question
Supermodel Linda Evangelista has been quoted as saying, ʺ[I] donʹt wake up for less than $10,000 a day.ʺ If Ms. Evangelista is paid $15,000 for her next daylong photo shoot, then
A) she is being paid $15,000 to cover her opportunity cost.
B) the first $10,000 she receives is economic rent to labor and the next $5,000 is more economic rent.
C) the entire $15,000 would be considered economic rent to labor.
D) she is receiving economic rent to labor equal to $5,000.
Answer
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