A competitive firm maximizes profits when price equals marginal cost.

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.

According to the text, success requires:

A) there is no secret formula that guarantees success. B) a visionary leader. C) a focus on quality. D) a customer-orientation. E) an emphasis on efficiency.