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- Rent is a payment for natural gifts of nature like land. Quasi rent is a payment for man made appliances like machines.
- As the supply of land cannot be changed, rent persists in both short run and long run. But quasi rent is a short run phenomenon which disappears in the long run when the supply of man made goods is increased.
- Rent is permanent in nature while quasi rent is a temporary phenomenon.
- Rent is the disparity amidst total revenue and total costs. Conversely, quasi rent is difference between total revenue variable costs.
- Some economists regarded rent as unearned income. But quasi rent is a necessary payment which all factors of production receive due to their inelastic supply in the short run.
- Ricardo's rent arises due to differences in fertility of land. Marshall's quasi rent arises due to the scarcity of man made appliances in the short run.
- Rent cannot be zero but quasi rent can be zero when the short run price of the commodity equals its average variable cost.
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