Even though Mary's income is very low, she makes sure that she purchases enough milk for her family to drink. As her income rises, she does buy more milk. Which graph in the above figure best represents Mary's Engel curve for milk?

Which of the following market structures is considered a differentiated products market?

a. Perfect competition b. Monopolistic competition c. Monopoly d. Both a and b are differentiated products markets.

A Gini coefficient of zero indicates:

A. perfect inequality. B. Computed correctly the Gini coefficient only has values greater than zero. C. perfect equality. D. there is no income being earned.