All categories

3 years ago

What is rent seeking in economics

Business

1 answer:

Nataly_w [17]3 years ago

4 0

Answer:

Rent-seeking is the effort to increase one's share of existing wealth without creating new wealth. Rent-seeking results in reduced economic efficiency through misallocation of resources, reduced wealth-creation, lost government revenue, heightened income inequality, and potential natoinal decline

Explanation:

You might be interested in

Lilly would like to start investing. What tools and services can she benefit from?

zhenek [66]

Lily can benefit both from investing her money in the bank and in insurance companies. The bank can be both a short and long-term investment where she could get her finances from in case she needs them, while insurance companies will become her long-term investment in case she needs finances for her other needs (i.e. health, travel, etc.).

3 0

3 years ago

The following information is taken from the production budget for the first quarter: Beginning inventory in units 600 Sales budg

goldenfox [79]

Answer:

508,000 units

Explanation:

The computation of the number of finished goods produced is shown below:

Finished goods produced during the year = Closing inventory + sales - opening inventory

= 2,600 units + 506,000 units - 600 units

= 508,000 units

We simply added the closing inventory into sales and deducted the opening inventory so that the finished goods produced during the year could come

4 0

4 years ago

Dyson employs outsourcing as a manufacturing strategy by having the vacuums manufactured in malaysia. this shows he understands

il63 [147K]

Dyson employs outsourcing as a manufacturing strategy by having the vacuums manufactured in malaysia. this shows he understands the importance of managing for _[ globalization]_ .

7 0

3 years ago

Brooks Co. purchases debt investments as trading securities at a cost of $66,000 on December 27. This is its first and only purc

Thepotemich [5.8K]

Answer:

Dr. Cr.

December 31

*Securities FV adjustment $6,000

Unrealized Gain $6,000

January 3

Cash $4,000

Securities FV adjustment $1,000

Trading Securities $3,000

* Securities FV adjustment is a sub asset account of trading securities.

Explanation:

Trading security are reported on its fair market value at each period end. The gain or loss should be recorded.

Dec 27, Purchase price = $66,000

Dec 31, Fair value = $72,000

Unrealized gain = $72,000 - $66,000 = $6,000

3 0

4 years ago

Suppose quantity demanded is 2,000 when price is $10 and 3,000 when price is $5. If a monopolist who was initially charging a pr

Pavel [41]

Answer:

$25,000 by charging consumers with more elastic demand only $5 and keeping the price for consumers with less elastic demand at $10

Explanation:

Price discrimination refers to the differentiation in the price of the product for every consumer that means the company charged different prices from the different customers

Also, in this it charges from the consumers having more elastic demand at less price. Here 2,000 units are purchased at $10 and the 1,000 units are purchased at $5 so the total quantity demanded is 3,000

The 25,000 units come from

= 2,000 ($10) + 1,000 ($5)

= 20,000 + 5,000

= 25,000

7 0

3 years ago

What is rent seeking in economics​

What is rent seeking in economics