What is economic rent and what is rent seeking?

Question

Accepted Answer

Economic rent is a surplus and rent seeking captures some economic rent, which increases the monopoly's deadweight loss.

Answer

Economic rent is a decrease in deadweight loss.

Answer

Economic rent is a decrease in consumer surplus and with rent seeking the monopoly becomes more efficient.

Answer

Economic rent is a surplus created and with rent seeking the monopoly captures the surplus and becomes more efficient.

Answer

Economic rent is a variable cost and with rent seeking the monopoly becomes more efficient.

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