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Posts: 71
2 weeks ago
Which of the following statements about rent seeking is false?

• Rent seeking often involves governments because governments transfer huge amounts of funds that economic agents must compete for.

• A person is engaging in rent-seeking behavior when he uses the political process to acquire ownership of a resource that belongs to the public.

• Because rent seeking redistributes society's resources, anyone engaging in such behavior is violating the law.

• If a firm can benefit from government intervention in the economy, it is more likely to spend resources attempting to secure this intervention than toward innovating its product to gain a competitive edge in the market.
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Microeconomics
Edition: 7th
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2 weeks ago
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Because rent seeking redistributes society's resources, anyone engaging in such behavior is violating the law.
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wrote...
2 weeks ago
Brilliant
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