What is the percentage of income received by the middle three quintiles on line X?

60

Economics

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Suppose the government wants to reduce illegal importation of exotic animals used as pets and tries to achieve this goal by interrupting the supply of illegally imported exotic animals

If the demand for these animals is highly inelastic, this government effort will result in A) a small reduction in the quantity of exotic pets demanded. B) a large reduction in the quantity of exotic pets demanded. C) no change in the quantity of exotic pets demanded. D) an increase in the quantity of exotic pets demanded.

Economics

Refer to Figure 4-3. What area represents consumer surplus at the equilibrium price of P1?

A) A + B + C + D + E B) A + B + C C) D + E D) A

Economics