Who wanted to tax away all rent from landlords?
A. David Ricardo
B. Henry George
C. Joseph Schumpeter
D. Frank Knight
B. Henry George
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Cost-plus pricing would be consistent with selecting the profit-maximizing price when
A) the demand for the firm's product is unit elastic. B) consumers value the product beyond its marginal cost. C) a firm has no difficulty estimating its demand curve. D) it results in a price that causes quantity sold to be where marginal revenue equals marginal cost.
Show how a monopolist maximizes its profit. Explain your graph.
What will be an ideal response?
In the simple circular-flow diagram, with households and firms, GDP can be computed a. as the income received by households, in the form of wages, rent and profit. b. as the income received by households in the form of wages
c. as the payments made by firms for labor. d. as the profits received by households.
An individual's ________ surplus is the area ________ the ________ curve and ________ the ________ up to the quantity ________
A) consumer; above; supply; below; market price, produced. B) producer; above; supply; below; market price, produced. C) consumer; below; demand; above; choke price, purchased. D) producer; below; supply; choke price, below; the producer sells.