Enter the total economic rent ($) and the quantity of goods imported into the calculator to determine the Quota Rent.
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Quota Rent Formula
The following formula is used to calculate the Quota Rent.
QR = ER * Q
- Where QR is the Quota Rent ($)
- ER is the total economic rent ($)
- Q is the quantity of goods imported
To calculate the quota rent, multiply the economic rent by the quantity of goods imported.
How to Calculate Quota Rent?
The following example problems outline how to calculate Quota Rent.
Example Problem #1:
- First, determine the total economic rent ($). In this example, the total economic rent ($) is given as 150.
- Next, determine the quantity of goods imported. For this problem, the quantity of goods imported is given as 10.
- Finally, calculate the Quota Rent using the equation above:
QR = ER * Q
The values given above are inserted into the equation below:
QR = 150 * 10 = 1,500 ($)
Example Problem #2:
The variables needed for this problem are provided below:
total economic rent ($) = 160
quantity of goods imported = 20
Entering these values and solving gives:
QR = 160 * 20 = 3,200 ($)
