This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: List two implications of rent-seeking behavior. What will be an ideal ... (Read 113 times)

londonang

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
List two implications of rent-seeking behavior.
 
  What will be an ideal response?

Question 2

Customers often complain about the high price of accessories for their cell phone including batteries, chargers and head sets. Often these items can cost even more than the price of the phone.
 
  Explain using price elasticity why this might be the case.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

paavo

  • Sr. Member
  • ****
  • Posts: 301
Reply #1 on: Jun 29, 2018
Answer to Question 1

(1.) Rent-seeking behavior consumes resources.
(2.) The government becomes a tool of the rent seeker.

Answer to Question 2

Once you have purchased a cell phone you are likely to have a more price inelastic demand for the accessories. Even though it would be nice to shop around the accessories of the competitors products are typically not interchangeable and in any event you likely have a two-year contract with your service provider that makes shopping around unattractive.


londonang

  • Member
  • Posts: 540
Reply 2 on: Jun 29, 2018
Gracias!

nyrave

  • Member
  • Posts: 344
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Anatomically modern humans left archaeological clues, including evidence of burials, which indicate Anatomically modern humans left archaeological clues, including evidence of burials, which indicate
Four approaches to studying the evolution of human behavior. Four approaches to studying the evolution of human behavior.
Grieving behavior can have common expressions in different cultures. Grieving behavior can have common expressions in different cultures.
The official “Do Not Use” list as issued by The Joint Commission. The official “Do Not Use” list as issued by The Joint Commission.
If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas? If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas?
A Short List of Human X-Linked Recessive and X-Linked Dominant Traitsa A Short List of Human X-Linked Recessive and X-Linked Dominant Traitsa
Video: Erythropoietin (EPO)

For a complete list of videos, visit our video library