The case for income inequality is supported by which of the following arguments?
a. personal misfortune is a random event
b. Lerner's maximum utility argument
c. economic efficiency
d. Marx's position that private property is theft
e. the Chinese divide-and-choose method of property division
C
Economics
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Refer to Scenario 1-3. Had the firm not produced and sold the last 400 t-shirts, would its profit be higher or lower, and if so by how much?
A) Its profit would be $800 higher. B) Its profit would be $4,000 lower. C) Its profit would be $4,800 higher. D) Its profit would be $800 lower.
Economics
What is the main difference between economic regulation and social regulation?
What will be an ideal response?
Economics