Rent seeking through lobbying A) reduces deadweight loss. B) ...

[washai]

Rent seeking through lobbying
 
  A) reduces deadweight loss.
  B) uses up resources that result in additional costs to society.
  C) results in perfect price discrimination.
  D) results in perfectly competitive industries.

Question 2

If the market for maple syrup is perfectly competitive, then in the long-run equilibrium, firms are
 
  A) entering the market.
  B) exiting the market.
  C) making zero economic profit.
  D) temporarily shutting down.

[manuelcastillo]

Answer to Question 1

B

Answer to Question 2

C

[washai]

Thanks for the timely response, appreciate it

[Viet Thy]

Great answer, keep it coming