Question

a. Rent seeking is charging higher rents for properties in high demand. an appeal to the government for special taxes to be applied to a certain group of firms. an appeal to the government for special benefits at the taxpayers' or someone else's expense. an effort to get a share of a government contract. b. Rent seeking is different from profit maximization because rent seeking attempts to increase profit by influencing the political process. is an effort to minimize cost, not maximize profit. attempts to increase profit by raising rents, not by producing a product. increases both revenue and cost, so its influence on profit is unclear. c. An example of rent seeking is a domestic industry group using resources to try to block imports. a firm using resources to try to develop new technologies. a professional organization trying to establish a new membership base. a neighborhood association establishing restrictions on traffic patterns. d. Elected officials often accommodate rent-seeking behavior, particularly by firms, unions, and professional groups located in their home states, because these groups support the elected officials with financial and nonfinancial resources. are the largest voting block. represent all voters. are the only groups allowed to appeal to elected officials. a. Rent seeking is charging higher rents for properties in high demand. an appeal to the government for special taxes to be applied to a certain group of firms. an appeal to the government for special benefits at the taxpayers' or someone else's expense. an effort to get a share of a government contract. b. Rent seeking is different from profit maximization because rent seeking attempts to increase profit by influencing the political process. is an effort to minimize cost, not maximize profit. attempts to increase profit by raising rents, not by producing a product. increases both revenue and cost, so its influence on profit is unclear. c. An example of rent seeking is a domestic industry group using resources to try to block imports. a firm using resources to try to develop new technologies. a professional organization trying to establish a new membership base. a neighborhood association establishing restrictions on traffic patterns. d. Elected officials often accommodate rent-seeking behavior, particularly by firms, unions, and professional groups located in their home states, because these groups support the elected officials with financial and nonfinancial resources. are the largest voting block. represent all voters. are the only groups allowed to appeal to elected officials. a. Rent seeking is charging higher rents for properties in high demand. an appeal to the government for special taxes to be applied to a certain group of firms. an appeal to the government for special benefits at the taxpayers' or someone else's expense. an effort to get a share of a government contract. b. Rent seeking is different from profit maximization because rent seeking attempts to increase profit by influencing the political process. is an effort to minimize cost, not maximize profit. attempts to increase profit by raising rents, not by producing a product. increases both revenue and cost, so its influence on profit is unclear. c. An example of rent seeking is a domestic industry group using resources to try to block imports. a firm using resources to try to develop new technologies. a professional organization trying to establish a new membership base. a neighborhood association establishing restrictions on traffic patterns. d. Elected officials often accommodate rent-seeking behavior, particularly by firms, unions, and professional groups located in their home states, because these groups support the elected officials with financial and nonfinancial resources. are the largest voting block. represent all voters. are the only groups allowed to appeal to elected officials. a. Rent seeking is charging higher rents for properties in high demand. an appeal to the government for special taxes to be applied to a certain group of firms. an appeal to the government for special benefits at the taxpayers' or someone else's expense. an effort to get a share of a government contract. b. Rent seeking is different from profit maximization because rent seeking attempts to increase profit by influencing the political process. is an effort to minimize cost, not maximize profit. attempts to increase profit by raising rents, not by producing a product. increases both revenue and cost, so its influence on profit is unclear. c. An example of rent seeking is a domestic industry group using resources to try to block imports. a firm using resources to try to develop new technologies. a professional organization trying to establish a new membership base. a neighborhood association establishing restrictions on traffic patterns. d. Elected officials often accommodate rent-seeking behavior, particularly by firms, unions, and professional groups located in their home states, because these groups support the elected officials with financial and nonfinancial resources. are the largest voting block. represent all voters. are the only groups allowed to appeal to elected officials. va. Rent seeking is charging higher rents for properties in high demand. an appeal to the government for special taxes to be applied to a certain group of firms. an appeal to the government for special benefits at the taxpayers' or someone else's expense. an effort to get a share of a government contract. b. Rent seeking is different from profit maximization because rent seeking attempts to increase profit by influencing the political process. is an effort to minimize cost, not maximize profit. attempts to increase profit by raising rents, not by producing a product. increases both revenue and cost, so its influence on profit is unclear. c. An example of rent seeking is a domestic industry group using resources to try to block imports. a firm using resources to try to develop new technologies. a professional organization trying to establish a new membership base. a neighborhood association establishing restrictions on traffic patterns. d. Elected officials often accommodate rent-seeking behavior, particularly by firms, unions, and professional groups located in their home states, because these groups support the elected officials with financial and nonfinancial resources. are the largest voting block. represent all voters. are the only groups allowed to appeal to elected officials.

Answer 1

1) Rent seeking is charging higher rents for properties in high demand

Solution: for special benefits at taxpayers or someone else's expense

Explanation: Rent-seeking refers to an appeal to the government at taxpayers or someone else's expense to avail the special benefits

2) Rent seeking is different from profit maximization because rent seeking

Solution: attempts to increase profit by influencing the political process.

Explanation: The rent-seeking targets to influence the political process for gaining a rise in profit.

3) An example of rent seeking is a domestic industry group using resources to try to block imports

Solution: a domestic industry group using resources to try to block imports

Explanation: When a domestic industry group makes the usage of resources to try to block imports it is an example of rent seeking.

4) Elected officials often accommodate rent-seeking behavior, particularly by firms, unions, and professional groups located in their home states, because these groups

Solution: support the elected officials with financial and non-financial resources

Explanation: Elected officials usually accommodate rent-seeking behavior for supporting the officials who are elected with financial as well as non-financial resources