Often to secure a monopoly, one must erect barriers to entry to obtain a monopoly. What is this activity called in general and what does it entail specifically?
What will be an ideal response?
Rent seeking is the term used to describe activities that are performed for the purpose of obtaining or retaining a monopoly. Specific activities might include lobbying, campaign contributions, bribery, lawsuits.
Economics
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Menu costs are a possible reason for
A) swings in the labor force participation rate. B) low levels of consumer confidence in response to aggregate supply shocks. C) aggregate supply shocks. D) sticky product prices.
Economics
Refer to the scenario above. Jack will derive ________ units of utility if Jill tries to move the tree while he does not try at all
A) 5 B) -5 C) -2 D) 10
Economics