Rent seeking is defined as
A) the act of obtaining special treatment from the government to create an economic profit.
B) selling a greater quantity than is profitable.
C) charging higher prices for an apartment.
D) charging a price below marginal cost.
E) charging different prices for different units of the good or service.

Question

Quizplus · Accepted Answer

Rent seeking refers to the practice of seeking to increase wealth or income without creating new wealth or income. It often involves obtaining special treatment from the government through policies or regulations that create economic profit. This can include lobbying for subsidies, tax breaks, or other forms of preferential treatment. Choices B, C, D, and E are not accurate definitions of rent seeking.

Rent Seeking Is Defined as