Examlex
Which of the following is true when long-run equilibrium conditions are present in price-taker and competitive price-searcher markets?
Expropriate
The act of a government taking private property for public use, usually with compensation to the owner.
Fee Simple Absolute
A type of freehold ownership where the owner has the maximum possible rights over the property, permitting them to use it, sell it, or bequeath it under the law.
Real Property
Land and anything permanently attached to the land, such as buildings, which can be contrasted with personal property.
Personal Property
Assets or belongings that are not permanently attached to, or part of, real estate.
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