Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: 
What is the total of the product costs above?
Definitions:
Rent-Seeking Activities
Practices of gaining economic benefits without contributing to productivity, typically through manipulation of the political environment.
Monopoly Power
The exclusive control by one company over an entire industry or market, allowing it to dictate terms and prices without competition.
Welfare Loss
This refers to the decrease in economic efficiency that occurs when the equilibrium for a good or service is not achieved or is distorted by external intervention, leading to a loss of social surplus.
Consumer Surplus
The discrepancy between the amount consumers are ready to pay for a good or service and the price they end up paying.
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