Prior to beginning work on this discussion, read Chapter 14 in your textbook and Tim Worstall’s article, One Benefit of Nancy MacLean’s Democracy in Chains – Public Choice and Rent Seeking Popularised (https://www.forbes.com/sites/timworstall/2017/08/06/one-benefit-of-nancy-macleans-democracy-in-chains-public-choice-and-rent-seeking-popularised/?sh=3f7c053d6aca).Based on the article’s information and Chapter 14 in your textbook, especially Sections 14.1 and 14.2, respond to the following:– What is the public choice idea or theory?-Explain what rent seeking is.-How can you combine the ideas of public choice and rent seeking?– Explain one real-world example of combining public choice and rent seeking.Your initial post should be a minimum of 300 words.Course Text:Amacher, R., & Pate, J. (2019). Principles of microeconomics (2nd ed.). Bridgepoint Education.
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