Lobbying and the extension of patents are both examples of x-inefficiency.
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Q209: In both monopolies and perfectly competitive markets,
Q210: Unlike monopolists, perfectly competitive firms do not
Q211: Rent-seeking behavior occurs in order to try
Q212: For a monopolist, rent-seeking behavior includes attempts
Q213: X-inefficiency stems from a monopolist not having
Q215: Charging different customers different prices is an
Q216: There are no benefits to monopolies.
Q217: A price-discriminating monopolist provides higher social welfare
Q218: First-degree price discrimination can be described as
Q219: Only first- and second-degree price discrimination are
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