answer the review questions from book 1

Review Questions

1. How are the normal deadweight losses from a monopoly quantified? How are the rent seeking losses quantified?

2. What is meant by over- and under-dissipation of rents? Which does Tollison think more likely and why?

3. How does rent seeking affect the distribution of income?

4. How does the government structure affect rent seeking incentives?

5. What conclusions are drawn about the role of government in a rent seeking society?

The anwser is from Page 24-40

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