Lenin's Term for the Group of People Who Would Need

question 4

Multiple Choice

Lenin's term for the group of people who would need to carry out revolution in a less advanced country is the

• A) proletariat masses.
• B) vanguard of the proletariat.
• C) special police.
• D) avant-garde.

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Definitions:

Natural Monopoly

A market condition where a single firm can supply a product or service at a lower cost than any potential competitor, often due to economies of scale.

Large Fixed Costs

Expenses that do not change in total regardless of changes in the volume of goods or services produced.

ATC

Average Total Cost, which is calculated by dividing the total cost of production by the quantity of output produced.

Price Elasticity Of Demand

The ratio of the percent change in the quantity demanded to the percent change in the price as we move along the demand curve.