On-the-job experience typically enhances a persons productivity in that particular job. If the persons salary increases to

Question:

On-the-job experience typically enhances a person’s productivity in that particular job. If the person’s salary increases to reflect increased experience but the additional experience has no relevance for other jobs, does this higher salary reflect an increase in or in economic rent?
Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...