Question

question 11 (1 point) listen in capitalist systems, the profits of the capitalist class: a) belong to everyone in society. therefore, government has the right and the duty to tax these profits to provide goods and services for the poor. b) belong to the capitalists as a residual claim on the revenue of firms. this means that the capitalist gets paid first before all other contractual obligations are met since the capitalist is the owner. c) belong to the capitalists as a residual claim on the revenue of firms. this means that the capitalist gets paid only after all other contractual obligations are met first. d) are calculated by subtracting profit from total revenue, plus total cost.

Explanation:

In capitalist systems, capitalists have a residual claim on firm - revenues. They receive profits only after all other contractual obligations (such as wages, debt payments) are met. Option A is incorrect as profits don't belong to everyone in society. Option B is wrong because capitalists are not paid first. Option D has an incorrect formula for calculating profits.

Answer:

C. belong to the capitalists as a residual claim on the revenue of firms. This means that the capitalist gets paid only after all other contractual obligations are met first.