This term generally refers to the compensation received for a factor beyond the cost necessary to maintain operation, and in ideal, perfect competition, it would not exist.
Rowley and Tollison wrote a book on the political economy of "seeking" this quantity, and such "seeking behavior" also applies to companies that attempt to secure government benefits. This term generally refers to the compensation received for a factor beyond the cost necessary to maintain operation, and in ideal, perfect competition, it would not exist. For 10 points, give this term, most commonly applied to the periodic cost of tenancy in a dwelling one does not personally own.
Rowley and Tollison wrote a book on the political economy of "seeking" this quantity, and such "seeking behavior" also applies to companies that attempt to secure government benefits.
economic {rent}