According to Gordon Tullock monopoly: a. profits or rents are subject to rent seeking the welfare cost triangle
b. is subject to rent seeking X-inefficiency
c. is something that differentiates government monopolies from private monopolies
d. the theory of monopoly is superior to the theory of perfect competition

a. profits or rents are subject to rent seeking the welfare cost triangle

Explanation:

Monopolies are businesses that have sole control of the supply and pricing of a product. Dead weight loss used to be regarded as consumer surplus that does not affect the amount of product that a monopolist can provide.

Gordon Tullock however argued that loss also occurs when businesses are seeking to be a monopoly. There is an associated cost on obtaining and maintaining a monopoly called rent seeking.

Also an additional cost as result of dead weight loss due to payment of tarrif. This can result from net welfare benefit or loss as a result of government policy change (this is referred to as welfare triangle).

the answer should be demonstrations i hope this

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