Any payment to a factor of production in excess of what is necessary to keep that factor in its present employment is known as? By: Sunday|Published on: Aug 3|Categories: Economics WAEC| 0 comments A. real income B. profit C. economic rent D. real wage Correct Answer: Option C – economic rent Users Also Read These:The reward to capital as a factor of production is?The reward to land as a factor of production is?Which of the following is a reward to a factor of…Land is a factor of production because it? In a crop production enterprise, a fixed factor of…SEE ALSO During inflation; the appropriate fiscal measure to adopt is to?