How much is the percentage of income received by the lowest quintile on line R?
11.5
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Investors should be willing to pay more for a stock when (controlling for all other things):
a. Future interest rates are expected to increase. b. Future interest rates are expected to decrease. c. Future dividends are expected to decrease.
Historically, the market prices of most natural resources (adjusted for inflation) have
a. increased. b. remained stable. c. remained stable or decreased. d. decreased.
Rayburn Reed is a highly talented photographer. He has chosen to specialize in photography because of all of the following except
A) he obviously has a comparative advantage in photography. B) his opportunity cost of pursuing another career is very low. C) for him, this is the most lucrative way to purchase the products that he wants to consume. D) his photographs are highly esteemed by art lovers who are willing to pay very high prices.
Which of the following expressions can be used to calculate the producer surplus (PS)?
A) PS = profit output B) PS = profit + fixed cost C) PS = variable cost - fixed cost D) PS = average cost output