In the figure above, the Lorenz curve that shows the richest 20 percent of households receiving 80 percent of all income is

In the figure above, the equilibrium market price is $20. Area A is the

A) marginal cost of 150th unit. B) willingness to pay for the 150th unit. C) producer surplus. D) consumer surplus. E) marginal benefit of 150th unit.

A market could function under competition in the situation of Figure 3.1 if demand is at the level of DD

Indicate whether the statement is true or false