A Lorenz curve summarizes the information provided by a Gini coefficient

Total surplus in a market is equal to

a. value to buyers - amount paid by buyers. b. amount received by sellers - costs of sellers. c. value to buyers - costs of sellers. d. amount received by sellers - amount paid by buyers.

An improvement in managerial efficiency in a Fortune 500 corporation increases the marginal revenue product of all people working for the corporation. Assuming that the wage of workers who are hired in a competitive labor market remains constant, the company will

A. fire some workers. B. hire some workers. C. neither increase nor decrease the number of workers employed. D. shut down unless it can lower wages.