Which of the Following Statements Is True

question 183

Multiple Choice

Which of the following statements is true?

• A)The motivation for rent seeking is not the same as the motivation for profit seeking.
• B)Economic rent is a payment in excess of opportunity cost.
• C)The deadweight loss triangle is not considered the graphic representation of one of the costs of monopoly; instead, it is one of the costs of not having a monopoly.
• D)Rent seeking is almost always an irrational activity as far as the rent seekers are concerned.
• E)a and d

---

Definitions:

Consensus

a general agreement among the members of a given group or community, each of whom exercises some degree of influence.

Intermittent Reinforcement

Reinforcement schedule in which a reward does not occur after each instance of a behavior or set of behaviors.

Fixed Interval Schedule

A reinforcement schedule in operant conditioning where the first response is rewarded only after a specified amount of time has elapsed.

Unpleasant Consequences

Negative outcomes or penalties that follow undesirable behaviors, aimed at reducing those behaviors.