Karl Marx said the people who control a society are the people who
A. run the government.
B. own the land.
C. own the plant and equipment.
D. work in the factories.
C. own the plant and equipment.
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Which of the following is a capital resource?
A. a computer programmer B. silicon (sand) used to make computer chips C. a corporate bond issued by a computer manufacturer D. a piece of software used by a firm
The above figure shows a housing market with a rent ceiling equal to $1,000. In this figure, after taking account of the resources lost in search, what area is equal to the consumer surplus?
A) area A B) area B C) area C D) area D E) area E
In the above figure, of the quantities listed below, for which is the total deadweight loss the largest?
A) 0 units B) 10 units C) 20 units D) 30 units
Why is a firm in perfect competition a price taker?
What will be an ideal response?