Rent-Seeking

question 88

Multiple Choice

Rent-seeking:

• A) is desired by consumers.
• B) is not a type of competition.
• C) is a type of competition that leads to a market price and output.
• D) is a type of competition that leads to an undesirable outcome.
• E) occurs when resources are used to deregulate a market though the political process.

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Definitions:

Injunction

A court order requiring an individual or entity to do or cease doing a specific action.

Old English Common Law

The body of legal principles that originated from the early unwritten laws of England, forming the basis of the common law legal system.

Court Order

A directive issued by a court or judge requiring an individual or entity to perform or cease performing specific acts.

Specific Performance

A legal remedy requiring a party to perform a specific act, usually fulfilling contractual duties, as opposed to paying damages.