The Lorenz curve shows the
a. functional distribution of income
b. personal distribution of income
c. relative percentage of income going to each of the resources
d. demand for unskilled versus unskilled labor
e. cumulative percentage of income received by cumulative percentages of households
E
Economics
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What is the relationship between marginal cost and marginal revenue when a single-price monopoly maximizes profit?
What will be an ideal response?
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A decrease in supply results in a(n)
a. decrease in demand b. increase in equilibrium quantity and a decrease in equilibrium price c. decrease in equilibrium quantity and a decrease in equilibrium price d. increase in demand e. increase in equilibrium price and a decrease in equilibrium quantity
Economics