Which of the Following Is an Example of Rent Seeking

question 176

Multiple Choice

Which of the following is an example of rent seeking behavior?

• A)Apple earned large profits from the development and sale of the iPhone.
• B)Amazon introduced the Kindle to compete with Sony's Digital Reader. Amazon was motivated by the desire to earn profits from the Kindle but also increased the choice of digital music players available to consumers.
• C)U.S. sugar firms convinced Congress to impose a quota on imports of sugar.
• D)Recent increases in cigarette taxes faced little opposition from voters, many of whom were rationally ignorant with respect to the tax.

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Definitions:

Sender's Signature

The written or electronic endorsement by the sender on a document, indicating approval or authentication.

Business Letter

A formal document typically used for communication between companies or between a company and its clients, suppliers, or other external parties.

Signature

A person's name written in a distinctive way as a form of identification in authorizing documents.

Content

The information, subjects, or features contained within a media piece or software.