Examlex
Most babies begin to roll over around 3 months,crawl at around 7 months,and take their first steps at about a year.The sequence mimics the language progression of __________ in most infants.
Rent-seeking
It involves seeking to increase one's share of existing wealth without creating new wealth, often through manipulation or exploitation of the economic environment.
Public Choice Theory
An economic theory that applies principles of economics to analyze political behavior and decision-making.
Government Failure
Occurs when the government becomes the tool of the rent seeker and the allocation of resources is made even less efficient by the intervention of government.
Profit-maximizing Number
The output level at which a firm achieves the highest possible profit, where marginal cost equals marginal revenue.
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