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Question
If everyone earned the same income, the Lorenz curve would be
A) a rectangular hyperbola.
B) a straight line from the origin at a 45 -degree angle.
C) the horizontal axis.
D) very bowed from the diagonal.
Answer
This answer is hidden. It contains 1 characters.
Related questions
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The regulation of the prices charged by insurance companies is known asA) the Federal Register. B) social regulation.C) the market share test. D) economic regulation.
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Q:
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Q:
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B) it earns zero economic profits
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Q:
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Q:
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Q:
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Q:
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Q:
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Q:
Why should a perfect competitor produce at which price equals marginal cost?
Q:
Which of the following is a true statement?A) Any property right system will yield a situation in which all externalities are internalized. B) Voluntary agreements can always yield a situation in which all externalities are internalized.C) Opportunity costs always exist with whoever has property rights.D) Opportunity costs turn external costs into social costs.
Q:
ʺThe market demand curve for labor is the horizontal summation of the labor demand curves of all firms.ʺ Do you agree or disagree? Why?
Q:
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Q:
Suppose that during a given time period the implicit cost for a business was $1,500 and that the explicit cost was $6,000. Also suppose that the firm sold 1,000 units of its products at $7 per item. We can conclude that the firmʹsA) accounting profit was $1,000, and its economic profit was -$500. B) accounting and economic profits were both $1000.C) accounting profit was -$500, and economic profit was $1,000. D) accounting profit was $1000, and economic profit was -$1,500.
Q:
ʺThe slope of the demand curve gives the elasticity of demand.ʺ Do you agree or disagree?
Why?
Q:
Which of the following type of shops is unlawful under the provisions of the Taft -Hartley Act?A) union shops B) closed shopsC) modified union shops D) open shops