Any costly activity firms undertake to protect their monopoly status is referred to as

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The term "rent seeking" refers to activities undertaken by firms to protect their monopoly status and increase their economic profits. This can include lobbying for government regulations or subsidies that protect the firm's market power, engaging in predatory pricing or other anticompetitive practices to deter entry by potential competitors, and investing in advertising or research and development to maintain a differentiation advantage over rivals. These activities are costly and divert resources away from productive uses, but can pay off in the form of sustained profitability and market dominance.

Any Costly Activity Firms Undertake to Protect Their Monopoly Status