b. Suppose the tarmers spend $530,000 in thoir lobbying offorts but havo no offect on governmont policy. What is the cost to society of the ront sooking? The cost to society of the rent sooking is O A. S0 as no "common" money have been spent on the lobbying. B. $530,000 of resources that is wasted C. more than $530,000 due to the costs of the distortions crented in society D. undetermined in this situation.
b. Suppose the tarmers spend $530,000 in thoir lobbying offorts but havo no offect on governmont policy. What is the cost to society of the ront sooking? The cost to society of the rent sooking is O A. S0 as no "common" money have been spent on the lobbying. B. $530,000 of resources that is wasted C. more than $530,000 due to the costs of the distortions crented in society D. undetermined in this situation.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter4: Labor And Financial Markets
Section: Chapter Questions
Problem 31P: Table 4.6 shows the amount of savings and barrowing in a market for loans lo purchase homes,...
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