>Monopoly rent implies (near) monopolies, which Facebook is not. Except it is, because it's able to leverage its market power to dictate terms to the market. I

>Monopoly rent implies (near) monopolies, which Facebook is not. Except it is, because it's able to leverage its market power to dictate terms to the market. If you prefer the term "oligopoly" rent you can do that, but there isn't much point. Their network effect and capacity for lock-in allows them to collect economic rents, which is the point here. >Facebook's economic rent is paid by their customers, which are advertisers No. Loss of privacy, surrendering your data and information, and platform constraints are all forms of rent paid to Facebook by consumers.