If the area between the line of equality and the Lorenz curve is 1,250, and the entire area beneath the line of equality is 5,000, the Gini ratio is

Refer to Table 4-7. Suppose that the quantity of labor supplied increases by 40,000 at each wage level. What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor?

A) W = $12.50; Q = 630,000 B) W = $8.50; Q = 550,000 C) W = $11.50; Q = 610,000 D) W = $9.50; Q = 610,000

Sally is shopping for textbooks at the beginning of the semester. What is one reason she might decide to not purchase a textbook?

A) Her expected producer surplus is positive. B) Her expected consumer surplus is negative. C) Her expected consumer surplus is positive. D) Her expected profits are positive.