Which of the following statements about economic rents is correct?

Question 25 options:

Family businesses are the type of productive organization that can reap the most benefits from the economic rents earned from their new innovations.

Markets provide a competitive environment where those unable to copy others? innovations would fail. This provides the ?stick? that drives the innovation process.

You and your employees have worked overtime this month to produce a record monthly profit. This is the economic rent achieved by your firm.

Economic rents provide strong incentives for innovation even in a centrally planned economy.