Rent Seeking

question 6

Multiple Choice

Rent seeking

• A)is the attempt to find apartments in a rent-controlled city
• B)only makes sense in a monopolistically competitive industry
• C)is a zero-sum game because the public's loss is the rent seeker's gain
• D)is the expenditure of resources to obtain favorable treatment from government
• E)occurs because of cyclical majority

---

Definitions:

Probability Density Function

A function that describes the relative likelihood for a random variable to take on a given value.

Total Area

The sum of all areas covered by a particular shape or figure.

Sampling Distribution

The likelihood distribution of a metric derived from numerous samples collected from a certain group.

Sample Mean

The average of all the observations in a sample, used as an estimate of the population mean.