16. Actions that firms take to preserve positive profits, such as lobbying for restrictions on competition, are

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16. Actions that firms take to preserve positive profits, such as lobbying for restrictions on competition, are called rent seeking. Rent-seeking behavior consumes resources and adds to social cost, thus reducing social welfare even further.

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Principles Of Microeconomics

ISBN: 9780691150093

13th Global Edition

Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster

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Question Posted: Nov 11, 2024 10:09 AM

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16. Actions that firms take to preserve positive profits, such as lobbying for restrictions on competition, are

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Principles Of Microeconomics

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