Asked by Keaton O'Brien on May 30, 2024

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Suppose lawyers seek legislation to limit the use of computer software that enables people to use their personal computers to self-prepare their own wills,trusts,and other legal documents.This is an example of:

A) logrolling.
B) the principal-agent problem.
C) rent-seeking behavior.
D) limited and bundled choices.

Rent-seeking Behavior

Activities aimed at gaining economic benefits without contributing to productivity, often through manipulation or exploitation of the political environment.

Limit

The maximum or minimum threshold that parameters, values, or quantities can reach.

Personal Computers

Electronic devices designed for individual use, capable of executing a set of commands to perform various tasks, such as word processing, internet browsing, and gaming.

  • Understand the position of rent-seeking activities and various strategies in public policy formulation.
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Gianni ToribioMay 31, 2024
Final Answer :
C
Explanation :
Rent-seeking behavior is when an individual or group seeks to use the political process to gain economic benefits for themselves by convincing the government to create laws or regulations that give them an advantage over others. In this case, the lawyers are seeking legislation that would limit the use of software for self-prepared legal documents, which would give them more business and income.