ldentify which of the following statements describe rent seeking and which do no
ID: 1115999 • Letter: L
Question
ldentify which of the following statements describe rent seeking and which do not. Rent seeking Not rent seeking Retail stores rely heavily on imported items in order to keep prices low for consumers. Industry groups lobby law-makers to pass legislation favorable to their members. U.S. textbook companies try to convince the government to outlaw An American waterfall tour company in Niagara Falls requests that the New York government deny business permits to Canadian competitors the purchase of international editions. U. S. dairy farmers decide not to export dairy products.Explanation / Answer
Retail stores..... =not rent seeking as it benefits customers
Industry groups lobby lawmakers....... =rent seeking as it benefits them only
US textbooks...... =rent seeking. Will benefit them not society.
An American waterfall........=rent seeking
US dairy producers.... =not rent seeking g
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