In equilibrium, rent seeking eliminates the
A) deadweight loss.
B) economic profit.
C) consumer surplus.
D) demand for the product.
E) opportunity to price discriminate.
B
Economics
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In addition to insuring accounts, the FDIC today has the additional power of
A) establishing the discount rate. B) establishing FOMC goals. C) establishing higher capital requirements for banks. D) setting reserve requirements.
Economics
Refer to Scenario 1-1. Had the firm not produced and sold the last 3,000 cell phones, would its profit be higher or lower, and by how much?
A) Its profit will be $6,000 lower. B) Its profit will be $700 lower. C) Its profit will be $700 higher. D) Its profit will be $6,700 higher.
Economics