The classical model
a. relies on the equivalency of the labor, capital, and land resource markets
b. includes a land market and a labor market
c. focuses primarily on capital markets
d. focuses primarily on labor markets
e. focuses on labor, capital, and land markets
D
Economics
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Consumption expenditure is the payment by households for consumption of
A) goods but not services. B) services but not goods. C) goods and services. D) services and for saving.
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For a firm operating in a perfectly competitive industry, total revenue, marginal revenue, and average revenue are all equal
a. True b. False Indicate whether the statement is true or false
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