An attempt by a firm to create a monopoly and gain the economic profit from the monopoly is called
A) collusion.
B) intrusion.
C) profit seeking.
D) rent seeking.

Name: An attempt by a firm to create a monopoly and gain the economic profit from the monopoly is called A) collusion. B) intrusion. C) profit seeking. D) rent seeking.
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Question

Quizplus · Accepted Answer

Rent seeking is the practice of trying to increase one's share of existing wealth without creating new wealth, often through monopolistic practices.

An Attempt by a Firm to Create a Monopoly and Gain