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When people use resources to manipulate public policy in order to redistribute income to themselves from others: this is rent seeking this is socially beneficial Both of the above Neither of the above Question 12 1 pts Compared to more competitive firms, monopoly producers tend to be: O more responsive to consumer demand more diligent to minimize costs of production Both of the above Neither of the above D Question 13 1 pts Price discrimination: O occurs when a seller charges different prices to different buyers for the same good increases prices for all customers will decrease the firm's profits Both a. and b. aboveD Question 14 1 pts In comparison to perfect competition, a monopoly results in: O lesser economic profit the same economic profit O greater economic profit D Question 15 1 pts Many sellers of similar products is; O monopoly O oligopoly O monopolistic competition perfect competition D Question 16 1 pts Like perfect competition, monopolistic competition: has many sellers has identical products has no market power All of the above