In a perfectly competitive industry, which of the following is true? The competitive price is higher and quantity higher than the socially efficient point.

The competitive price is higher and quantity lower than the socially efficient point.

Since the industry is perfectly competitive, price and quantity are at the socially efficient levels.

The competitive price is lower and quantity higher than the socially efficient point.

Karl marx spent much of his life attempting to describe and understand how capitalism works. in one particularly vivid passage, he described in this way the turbulence he saw as inherent in capitalism: “all that is solid melts into air, all that is holy is profaned, and man is at last compelled to face with sober senses his real condition of life and his relations with his kind.” what sort of relationships did he think his readers had with other people? a. relationships based on social bonds and solidarity b. cultural relationships c. economic relationships d. relationships of community and religion

What is the role of buyer & seller in the marketplace

Which sentence correctly uses a latin root word that means to see