Any attempt to capture a consumer surplus, a producer surplus, or an economic profit is called
A) efficiency gain.
B) profit- maximising.
C) rent seeking.
D) price discrimination.

Question

Quizplus · Accepted Answer

Rent seeking is the effort to increase one's share of existing wealth without creating new wealth. This includes activities aimed at obtaining financial gains through manipulation or exploitation of the economic environment, such as regulations or monopolies, rather than through trade and production of added value.

Any Attempt to Capture a Consumer Surplus, a Producer Surplus