Based on the graphic showing the Lorenz Curve, at point d’, what percentage of total income did the highest 20 percent of earners receive in 2017?

Letters are used to represent the terms used to answer this question: price (P), quantity of output (Q), total cost (TC) and average total cost (ATC). Which of the following equations is equal to a firm's profit?

A) P - ATC B) (P × Q) - (P × ATC) C) P - TC D) (P × Q) - TC

According to the public-choice view,

a. laissez-fare is always the best economic policy. b. macroeconomic policymakers are only interested in the social good. c. policymakers often act in irrational ways or out of ignorance. d. politics often trump economic theory in policymaking. e. both c and d.