When a monopolist spends money to make it harder for competitors to enter the industry, this is referred to as

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Rent seeking refers to activities undertaken by individuals or firms to influence public policy or economic conditions in a way that increases their incomes or profits without adding any value to society. In the context of a monopolist, spending money to make it harder for competitors to enter the industry is a form of rent seeking because it aims to preserve the monopolist's market power and profits by preventing competition, rather than by improving the product or reducing costs.

When a Monopolist Spends Money to Make It Harder for Competitors