In a society in which everyone lives at the subsistence level, the Gini coefficient is 0.
Answer the following statement true (T) or false (F)
True
Rationale: Such a society would have perfect equality -- implying the Lorenz curve lies on the 45 degree line.
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If a firm had a fixed proportions technology, then the pollution produced by this firm
A) cannot be reduced. B) can be reduced only by lowering the level of output (holding technology constant). C) can be reduced by changing how the output is produced within the bounds of the existing technology. D) can be reduced only by increasing the number of firms in the industry. E) can be reduced only by changing the technology.
The shape of the marginal cost curve tells a producer something about the marginal product of her workers
a. True b. False Indicate whether the statement is true or false