The less bowed the Lorenz Curve, the
A) more equal the income distribution.
B) less equal the income distribution.
C) greater the number of low-income people.
D) greater the number of high-income people.
A
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Wendell can sell five motor homes per week at a price of $22,000. If he lowers the price of motor homes to $20,000 per week he will sell six motor homes. What is the marginal revenue of the sixth motor home?
A) $10,000 B) $12,000 C) $20,000 D) $22,000
The common ownership of natural resources frequently leads to
(a) an efficient resource allocation. (b) an even distribution of resources. (c) an uneven distribution of resources. (d) a productive use of resources.
A falling average cost implies that
a. marginal cost is above average cost b. marginal cost is below average cost c. marginal cost is equal to average cost d. none of the above
Which of the following is NOT a way to signal high quality
a. wearing everyday clothes to a job interview b. leaving a big tip for the waiter after a dinner date c. offering an expensive engagement ring to your bride d. Visiting the beauty salon before a big date