Rent seeking will lower the social cost of monopoly.

Name: Rent seeking will lower the social cost of monopoly.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Rent seeking refers to the act of using resources to gain an economic advantage through political or legal means, such as lobbying for favorable regulations or subsidies. Therefore, rent seeking actually raises the social cost of monopoly by creating inefficiencies and distorting competition.

Rent Seeking Will Lower the Social Cost of Monopoly