Rent seeking activities by special interest groups result in
a. greater economic activity by promoting efficiency in government
b. lower economic activity by diverting resources to less-productive or nonproductive uses
c. a more equal distribution of income and wealth in the nation
d. lower expenditures by government through an increase in taxes
e. greater efficiency in the private economy and increased wealth for society
B
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Refer to the figure below. 
If Row Resorts keeps its rates high, then Column Cruises would receive the highest payoff if it:
A. offered reduced rates. B. kept its rates high. C. chose either strategy because it will have the same payoff in either case. D. agreed with Row Resorts to reduce their rates at exactly the same time.
If an increase in income leads to an increase in the demand curve for sailboats, this will lead to
A. higher prices of sailboats. B. lower prices of sailboats. C. a corresponding shift in the supply curve for sailboats. D. reduced output of sailboats. E. no change in the price of sailboats.
Opportunity costs arise from
A) choices. B) taxes. C) mistakes. D) regrets.
For a monopolist, the quantity effect:
A. is the increase in revenues from selling a greater quantity at a lower price. B. is the decrease in revenues from selling a greater quantity at a lower price. C. is always outweighed by the price effect. D. always outweighs the price effect.