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Madison Gonzalez
on Nov 27, 2024

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Any activity designed to transfer income or wealth to a particular individual or firm at society's expense is called

A) patent protection.
B) X-inefficiency.
C) price discrimination.
D) rent-seeking.

Rent-seeking

The practice of gaining economic advantage by manipulating the social or political environment in which economic activities occur, instead of by creating new wealth.

Patent Protection

A legal right granted by the government to an inventor, giving them the exclusive right to make, use, or sell their invention for a certain period.

  • Discuss the economic implications of rent-seeking behavior by monopolies.
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Courtney McAbeeNov 30, 2024
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