Which of the following countries has a Lorenz curve that is furthest away from the perfect equality line?
a. Brazil

For many goods, the price elasticity of demand increases over time because

A) people's incomes tend to increase over time. B) inflation increases all prices and incomes over time. C) the ability to find substitutes for a good whose price has risen increases over time. D) None of the above answers is correct.

A 10 percent decrease in the price of a Pepsi decreases the demand for a Coca-Cola by 50 percent. The cross elasticity of demand between a Pepsi and Coca-Cola is

A) 50. B) 10. C) 5. D) 0.20.