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"Rent-seeking" refers to a. the actions of individuals who spend resources to influence public policy in the hope of transferring income to themselves from others. b. the fact that the deadweight loss
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"Rent-seeking" refers to a. the actions of individuals who spend resources to influence public policy in the hope of transferring income to themselves from others. b. the fact that the deadweight loss triangle is a genuine cost of monopoly. c. trying to lower rent that is paid on a factory in order to lower fixed costs. d. trying to pay the lowest rent possible for an apartment or house.

User Michael Shterenberg
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Answer:

A.

Step-by-step explanation:

Rent-Seeking is an economic concept which states that an individual or entity tries to increase their wealth without adding or creating new wealth to the society. The concept of rent-seeking was developed by Gordon Tullock in 1967, but the concept was universalized by Anne Krueger in 1974. In this concept, the owner of resources lends his/her resources to others and earns wealth from the interest of lending/renting.The concept of rent-seeking involves gaining wealth from society without creating new wealth that would add to the benefits of society.

From the given options the correct one is A.

User Darian Moody
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