Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 20 - Agriculture: Economics and Policy - Discussion Questions - Page 463: 11

Answer

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Rent seeking behavior is when people try to get a bigger portion of the revenue without creating more revenue. For instance, in the NBA, players saw that the league was making lots of money, so their union bargained in order to get more of it.
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