Q 1. Rent seeking is . 2. One way a government can eliminate a market failure . 3. In the U.S., charging monopoly-level prices. 4. The price of pie increases. Some people who purchased pie before the price increase no longer purchase pie. This is. 5. Consider a housing development built near an existing airport. After the houses are occupied, homeowners complain that the airport imposes a negative externality on them and it should be moved or otherwise limited. Is the airport a negative externality?
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