In 1993, seven Native American Tribes in Michigan cut a deal with the state. In exchange for

Question:

In 1993, seven Native American Tribes in Michigan cut a deal with the state. In exchange for being granted a monopoly in Vegas-style casino gambling, the tribes agreed to pay the state and local governments a share of its profits. By 1998, the profit sharing totaled more than $183 million. In 1998, the state opened gambling to other tribes, and the profit-sharing arrangement stopped. This is an example of rent seeking: The tribes agreed to pay millions of dollars to secure a monopoly, and when the monopoly ended, so did the payments.

OVERY STOW & en les innene the Ol SA CASINO ONKAY