Rent-seeking is:
A. illegal.
B. a reason that the deadweight loss from a monopoly could be just a small fraction of the actual loss caused by monopoly power.
C. the process for that profit-maximizing monopolies use to determine optimal product quality.
D. another term for advertising.
B. a reason that the deadweight loss from a monopoly could be just a small fraction of the actual loss caused by monopoly power.
Economics
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In a planned economy, the means of production are owned by private individuals.
a. true b. false
Economics
In an economy, 42 million people are in the labor force, 38 million are employed, and 47 million are of working age. How many people are not in the labor force?
A) 19 percent B) 9 million C) 5 million D) 4 million
Economics