An example of rent seeking is
a. lobbying by industrial groups.
b. lawsuits between rival firms.
c. battles over exclusive licenses.
d. All of the above are correct.
d
You might also like to view...
A profit-maximizing firm will continue to expand output:
a. as long as the revenues from the production and sale of an additional unit exceeds the average cost of the unit. b. until the average cost of producing the good or service is at a minimum. c. as long as the revenues from the production and sale of an additional unit exceeds the marginal cost of the unit. d. until the marginal cost of producing a good or service is at a minimum.
The production possibilities frontier illustrates
a. the combinations of output that an economy should produce. b. the combinations of output that an economy should consume. c. the combinations of output that an economy can produce. d. All of the above are correct.