1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anika [276]
4 years ago
8

Define rent seeking. Rent seeking is attempting to transfer surplus from one group to another, for firms it usually involves: re

stricting supply in order to increase price. restricting supply in order to decrease price. increasing supply in order to decrease price. increasing supply in order to increase price. Do firms have a greater incentive to engage in rent-seeking behavior when demand is elastic or when it is inelastic?
Business
1 answer:
murzikaleks [220]4 years ago
6 0

Answer:

For firms, Rent Seeking usually involves: <u>restricting supply in order to increase price</u>

Explanation:

An example of rent-seeking in a modern economy is spending money on lobbying for government subsidies in order to be given wealth that has already been created, or to impose regulations on competitors, in order to increase market share.

A rent seeking firm have a greater incentive to engage in rent-seeking behavior when demand is elastic because the restriction imposed on competitors will not affect the demand for the goods.

You might be interested in
​, how much would government spending have to rise to increase output by ​$
aalyn [17]
1,000 billion is how much the government would spend to increase outputs 
3 0
3 years ago
20 Points: Which scenario depicts an ethical workplace practice by a business owner?
xenn [34]

Answer:

Explanation:

B. sharing statutory personal information of its employees with law agencies

7 0
3 years ago
Read 2 more answers
No entries shall be allowed for district meets which are not submitted to the director on or before the ____ day before the firs
Pepsi [2]

No entries shall be allowed for district meets which are not submitted to the director on or before the fifth day before the first day of the meet.

<h3>What is district ?</h3>

A district is a type of administrative division that is managed by the local government in some countries. Districts vary widely in size around the world, spanning regions or counties, numerous municipalities, subdivisions of municipalities, a school district, or a political district.

A district is defined as a region set apart or put together as a single distinct area for political or administrative purposes. A district is an area of a town that elects a single mayor who is shared by everyone in the area.

A district is a section of a country, city, or town designated by the government for official purposes.

To know more about district  follow the link:

brainly.com/question/25965491

#SPJ4

5 0
2 years ago
If price increases by 12 percent and quantity demanded decreases by 10 percent, demand is _________
Vinil7 [7]

Answer:

Demand is Inelastic

Jack : Substitution Effect dominates

Becky : Buy fewer hiking boots

Explanation:

Elasticity of Demand is responsive change in demand due to change in price. Demand is : Elastic - When proportionate change (% change) in demand > proportionate (% change) in price and Inelastic - When proportionate change  (% change) in demand < proportionate change (% change) in price .

So, If price rise by 12% & demand decreases by 10% , Demand is Inelastic.

a. Substitution Effect is consumer's shift from dearer to cheaper goods & so,  rise in demand of falling prices good , fall in demand of rising prices good . Jake buying lesser T shirts (relatively expensive) when price of Donuts fall (relatively cheaper) means Substitution Effect dominates for him.

b. Income Effect is price - demand inverse relationship, by change in real purchasing power due to price change. Price rise reduces real purchasing power, decreases demand & price fall increases real purchasing power, increases demand. Becky's paint brush price rise reduces her real purchasing power & she consumes less of both paintbrushes & hiking boots.

6 0
3 years ago
The management at Burgerjoy, a small restaurant, finds that the lower the price of hamburgers, the more hamburgers are sold. Thi
Anika [276]

Answer:

Negative linear

Explanation:

Negative linear is when two variables move in the opposite direction.  Movement by one variable causes the other to move in the opposite direction. Negative linear is similar to an indirect relationship between the variable.  For Bungerjoy, the variables are price and sales of hamburgers.

An observation has been made that if the price of hamburgers decreases, the sales increase. Changes in the price of the hamburgers will result in sales moving in the opposite direction.  Positive linear correction is when two variables move in the same direction.

3 0
3 years ago
Other questions:
  • Marcus and tony work for lombardo's pipe and concrete. mr. lombardo is preparing an estimate for a customer. he knows that maruc
    12·1 answer
  • _____ establishes a company-wide strategy for it resources and specific standards for data, processing, network, and user interf
    12·1 answer
  • Periodicals like usa today and engineering news record are examples of
    14·1 answer
  • A loan is a sum of money that is borrowed from a financial institution and then paid back in______
    6·2 answers
  • Enumerating different potential implementation environments that could be used to deliver the different sets of capabilities occ
    10·1 answer
  • Total fixed costs for Randolph Manufacturing are $764,000. Total costs, including both fixed and variable, are $1,030,000 if 200
    13·1 answer
  • Tamika has conducted a series of performance tests on several different prototypes of her company's new product, and wants to pe
    9·1 answer
  • Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during
    5·1 answer
  • How would you pay taxes on a earned income?
    7·1 answer
  • An example of a quantity restriction is
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!